Morgan Stanley raised the firm’s price target on Qualcomm (QCOM) to $146 from $132 and keeps an Underweight rating on the shares. Qualcomm guided handsets in June below the firm’s estimates, but indicated a bottom for China Android in June, the analyst tells investors in a research note. The firm added that, with Apple (AAPL) share loss in Q3, a revenue bottom in handsets is tough to call.
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