Arete upgraded Qualcomm (QCOM) to Buy from Neutral with a price target of $200, up from $172. Qualcomm’s momentum should build starting in fiscal years 2027 given its emerging opportunities in advanced driver-assistance systems, robotics, personal artificial intelligence devices, datacenter, and industrial automation, the analyst tells investors in a research note. The firm says the stock’s valuation implies Qualcomm is “under distress” while its fundamentals are healthy. Investors should reconsider Qualcomm now that management is embarking on a transformation, contends Arete.
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