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Qualcomm price target raised to $165 from $145 at UBS

UBS raised the firm’s price target on Qualcomm (QCOM) to $165 from $145 and keeps a Neutral rating on the shares. UBS sees modest upside bias to Q3 results amid strong signs of tariff-related pull-ins for Android and Apple units in the quarter, but does not see this momentum being sustained into the second half as pull-ins likely wane because end consumption for PC and smartphone has not really gotten any better, the analyst tells investors in a research note.

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