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QUALCOMM Started as a “Buy” at Cantor Fitzgerald; Bullish on Wireless for the Long Term (QCOM)

By Dividend.com,  June 28, 2012, 08:46:06 AM EDT

Wireless chipmaker QUALCOMM, Inc. ( QCOM ) on Thursday caught some bullish commentary from analysts at Cantor Fitzgerald.

The firm started coverage on QCOM with a "Buy" rating and $66 price target, suggesting a 20% upside to the stock's Wednesday closing price of $54.91.

Cantor Fitzgerald noted that multiple long-term trends remain strong for wireless devices.

QUALCOMM shares posted small losses in premarket trading Thursday.

The Bottom Line
Shares of Qualcomm ( QCOM ) have a 1.82% dividend yield, based on last night's closing stock price of $54.91. The stock has technical support in the $50 price area. If the shares can firm up, we see overhead resistance around the $59-$60 price levels.

QUALCOMM, Inc. ( QCOM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: QCOM



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