TD Cowen raised the firm’s price target on Qualcomm (QCOM) to $195 from $180 and keeps a Buy rating on the shares. The firm said they posted another solid set of results/guidance, aided by record handset revenue. Investors’ focus, however, appears to be on the flat Y/Y F2025 QTL outlook with Huawei royalty revenue removed; a re-emergence of issues that had quieted down for a few years.
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