Qualcomm price target raised to $190 from $185 at JPMorgan

JPMorgan analyst Samik Chatterjee raised the firm’s price target on Qualcomm (QCOM) to $190 from $185 and keeps an Overweight rating on the shares. The firm adjusted price targets in hardware and networking, saying it expects upside to second half of 2025 estimates from “robust” cloud spending. However, underlying end market drivers for other customer verticals “remain a watchpoint” as they exhibit more sensitivity to the macro environment, the analyst tells investors in a research note.