UBS analyst Timothy Arcuri raised the firm’s price target on Qualcomm (QCOM) to $190 from $185 and keeps a Neutral rating on the shares. The company posted strong guidance and, similar to MediaTek, was constructive on the flagship portion of the China market given new models and selling price growth from its new Snapdragon 8 Elite, the analyst tells investors in a research note. The firm says Qualcomm’s mobile business continues to grow in a flattish overall unit market due to outsized exposure to the premium tier.
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