Qualcomm price target lowered to $160 from $195 at TD Cowen

TD Cowen lowered the firm’s price target on Qualcomm (QCOM) to $160 from $195 and keeps a Buy rating on the shares. Widespread tariffs, regardless of semi exemptions, “add an accelerant to an already-potent mix of investor concerns on compute/AI,” says the analyst, who says in a preview of the compute semiconductor group that results are unlikely to see an impact, but outlooks from members of the group may reflect “significant uncertainty pervading what is inherently a global tech supply chain.”