There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on GTT Communications (NYSE:GTT) and Qualcomm Inc (NASDAQ:QCOM) with bullish sentiments.
GTT Communications (GTT)
In a report released yesterday, Jonathan Charbonneau from Cowen & Co. reiterated a Buy rating on GTT Communications, with a price target of $57. The company’s shares closed on Friday at $40.40.
Charbonneau has an average return of 36.3% when recommending GTT Communications.
According to TipRanks.com, Charbonneau is ranked #1140 out of 4846 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for GTT Communications with a $58 average price target, representing a 43.6% upside. In a report issued on August 3, Jefferies also reiterated a Buy rating on the stock with a $61 price target.
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Qualcomm Inc (QCOM)
Qualcomm Inc received a Buy rating and an $80 price target from Cowen & Co. analyst Matt Ramsay today. The company’s shares closed on Friday at $65.40.
According to TipRanks.com, Ramsay is a top 100 analyst with an average return of 24.0% and a 64.3% success rate. Ramsay covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, Silicon Laboratories, and Monolithic Power.
Currently, the analyst consensus on Qualcomm Inc is a Moderate Buy with an average price target of $68.36, implying a 4.5% upside from current levels. In a report issued on July 25, Mizuho Securities also reiterated a Buy rating on the stock with a $64 price target.
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