Citigroup Maintains Their Buy Rating on Qualcomm (QCOM)


Citigroup analyst Christopher Danely maintained a Buy rating on Qualcomm (QCOM) today and set a price target of $98.00. The company’s shares closed last Friday at $66.59.

According to TipRanks.com, Danely is a 3-star analyst with an average return of 1.4% and a 52.3% success rate. Danely covers the Consumer Goods sector, focusing on stocks such as Texas Instruments, Maxim Integrated, and Microchip.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Qualcomm with a $93.06 average price target, representing a 39.8% upside. In a report issued on March 18, Canaccord Genuity also maintained a Buy rating on the stock with a $95.00 price target.

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The company has a one-year high of $96.17 and a one-year low of $55.79. Currently, Qualcomm has an average volume of 11.65M.

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QUALCOMM, Inc. engages in the development, design, and provision of digital telecommunications products and services. It operates through the following segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products. The QTL segment grants licenses and provides rights to use portions of the firm’s intellectual property portfolio. The QSI segment focuses on opening new or expanding opportunities for its technologies and supporting the design and introduction of new products and services for voice and data communications. The company was founded by Franklin P. Antonio, Adelia A. Coffman, Andrew Cohen, Klein Gilhousen, Irwin Mark Jacobs, Andrew J. Viterbi, and Harvey P. White in July 1985 and is headquartered in San Diego, CA.

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