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Qualcomm’s Target, Estimates Raised at Credit Suisse; Smartphone Growth Continues (QCOM)

By Dividend.com,  April 12, 2012, 08:56:08 AM EDT

Wireless chipmaker Qualcomm, Inc. ( QCOM ) on Thursday received some positive commentary from analysts at Credit Suisse.

The firm maintained its "Outperform" rating on QCOM and lifted its price target to $80. That new target suggests a 21% upside to the stock's Wednesday closing price of $66.22.

Credit Suisse also boosted its earnings estimates through 2013, noting the company is well-leveraged to benefit from secular growth in the smartphone market.

Qualcomm shares, which have risen 21% year-to-date, posted modest gains in premarket trading Thursday.

The Bottom Line
Shares of Qualcomm ( QCOM ) have a 1.51% dividend yield, based on last night's closing stock price of $66.23. The stock has technical support in the $61-$63 price area. If the shares can firm up, we see overhead resistance around the $70-$71 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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