TD Cowen Reiterates Buy Rating on Qualcomm (QCOM)

TD Cowen analyst Matthew Ramsay reiterated a Buy rating and $200.00 price target on Qualcomm (NASDAQ: QCOM).

The analyst commented, "We are optimistic Qualcomm's expertise in low-power processing will drive diversified growth in AI-infused embedded applications, an attractive setup for the stock. Roughly maintained auto targets seem achievable given Qualcomm's quick ramp and high-ASP ADAS potential, but PC/IoT/XR expectations aggressively imply a 21% IoT CAGR. 50% QCT share from mobile by F2030 could be a very positive outcome."

For an analyst ratings summary and ratings history on Qualcomm click here. For more ratings news on Qualcomm click here.

Shares of Qualcomm closed at $164.71 yesterday.

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