Bernstein analyst Stacy Rasgon maintained a Buy rating on Qualcomm (QCOM – Research Report) today and set a price target of $215.00.
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Stacy Rasgon has given his Buy rating due to a combination of factors that highlight Qualcomm’s strong performance and future potential. Qualcomm’s latest quarterly results significantly surpassed market expectations, with substantial growth observed across all segments, including Handsets, Automotive, and IoT. The company also demonstrated robust margin performance and provided optimistic guidance for the upcoming quarter, driven by continued strength in their chipset markets.
Furthermore, Qualcomm’s valuation remains attractive, trading at a notable discount compared to the broader semiconductor index, even when considering potential headwinds from Apple’s design-out cycle. Despite some uncertainties, such as Huawei’s license renewal, Qualcomm’s positioning in China and its growing share in the Samsung Galaxy lineup provide strong growth prospects. These factors, coupled with a favorable market outlook and strategic positioning, underpin Stacy Rasgon’s optimistic Buy recommendation for Qualcomm’s stock.
In another report released today, DBS also maintained a Buy rating on the stock with a $215.00 price target.