Qualcomm price target lowered to $190 from $225 at Rosenblatt

Rosenblatt lowered the firm’s price target on Qualcomm (QCOM) to $190 from $225 and keeps a Buy rating on the shares post the earnings report. The firm says the China handset build forecast has Qualcomm guiding Q2 down to $6B. This would be the lowest quarterly handset revenue for Qualcomm in 10 quarters, the analyst tells investors in a research note. Rosenblatt reduced estimates post the print.