JPMorgan raised the firm’s price target on Qualcomm (QCOM) to $200 from $190 and keeps an Overweight rating on the shares as part of a fiscal Q3 preview. The firm sees a low bar for Qualcomm with the shares underperforming the S&P 500 year-to-date. While the loss of Apple revenue over the next couple of years will constrain the company’s growth, the “resilience” of its revenue outlook will be highlighted, the analyst tells investors in a research note.
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