New York, September 20 (FinanceEnquiry.com) – Analysts at FBR Capital Markets reiterate their OUTPERFORM rating on the shares of QUALCOMM Incorporated (NASDAQ: QCOM). The 12-month target price has been raised from $70.00 to $72.00.
In a research note published on September 19, the analysts mention that with 4G LTE and Apple iPhone 5 catalysts ahead of QUALCOMM Incorporated, it stays the gold-standard cellular technology provider while stepping back.
Furthermore, with risk or reward still positive in spite of its latest bounce, shares are the favored mega-cap long semiconductor. Also, with QTL royalty and iPad Mini upside likely, strong consecutive development is supposed to have been in store for both 3Q12 and 4Q12.
In addition to this, in order to penetrate (a lessening) Nokia Corporation (NYSE: NOK), to develop Win8 and mobile compute shipments, to profit from market share gains of Apple Inc (NASDAQ: AAPL), to raise opportunities of TD-SCDMA in China and to increase annual device shipments of QTL toward 2.0 billion units, 4G LTE chips grow at 28 nm (MSM8960). Due to this, with prospects to ramp content & margin and with the firm a solid play on global growth in 3G and 4G technologies, the long-term story of QUALCOMM Incorporated appears intact.
Moreover, while increasing the target price from $70 to $72, reiterations of OUTPERFORM rating and estimates above the consensus on QUALCOMM Incorporated are done, the analysts add further.
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