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Qualcomm’s Target, Estimate Raised at Barclays Capital on Higher Smartphone Expectations (QCOM)

By Dividend.com,  January 18, 2011, 09:21:33 AM EDT

Wireless chipmaker Qualcomm, Inc. ( QCOM ) on Tuesday saw its price target and earnings estimate upped by analysts at Barclays Capital.

The firm said it boosted its price target for QCOM from $55 to $60, which represents a 15% upside to the stock's Friday closing price of $52.04. Barclays Capital also raised its 2011 EPS estimate raised to $2.77 from $2.75 and maintained its "Overweight" rating, citing higher sales expectations driven by smart phone demand.

Qualcomm shares rose 51 cents, or +1%, in premarket trading Tuesday.

The Bottom Line
Shares of Qualcomm ( QCOM ) have a 1.46% dividend yield, based on last night's closing stock price of $52.04. The stock has technical support in the $47 price area. If the shares can firm up, we see overhead resistance around the $56 price level.

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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