Qualcomm price target lowered to $204 from $207 at Morgan Stanley

Morgan Stanley analyst Joseph Moore lowered the firm’s price target on Qualcomm (QCOM) to $204 from $207 and keeps an Equal Weight rating on the shares. In the September quarter, Qualcomm benefited from increased content, a stable and growing premium tier handset market, and normalized inventory dynamics, notes the firm, whose “numbers are roughly unchanged” following the report. The firm now forecasts revenue of $10.3B for the March quarter and $2.66 EPS and for calendar 2025 it now models $42.6B and $11.32 in terms of revenue and EPS.