There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Mercadolibre (MELI) and Qualcomm (QCOM) with bullish sentiments.
Mercadolibre (MELI)
In a report released today, Robert Ford from Merrill Lynch reiterated a Buy rating on Mercadolibre, with a price target of $2100.00. The company’s shares closed last Monday at $1640.00, close to its 52-week high of $1735.75.
Ford has an average return of 62.4% when recommending Mercadolibre.
According to TipRanks.com, Ford is ranked #1394 out of 7185 analysts.
Currently, the analyst consensus on Mercadolibre is a Strong Buy with an average price target of $1594.09, a -2.8% downside from current levels. In a report issued on December 22, Banco Santander also upgraded the stock to Buy with a $1980.00 price target.
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Qualcomm (QCOM)
Rosenblatt Securities analyst Kevin Cassidy maintained a Buy rating on Qualcomm today and set a price target of $155.00. The company’s shares closed last Monday at $148.50, close to its 52-week high of $161.07.
According to TipRanks.com, Cassidy is a 5-star analyst with an average return of 24.9% and a 71.9% success rate. Cassidy covers the Technology sector, focusing on stocks such as Smart Global Holdings, Skyworks Solutions, and ON Semiconductor.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Qualcomm with a $164.72 average price target, representing a 10.9% upside. In a report issued on December 22, Robert W. Baird also initiated coverage with a Buy rating on the stock with a $200.00 price target.
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