- Qualcomm (NASDAQ:QCOM) is downgraded from Overweight to Equal-Weight at Morgan Stanley, which raises the target by a dollar to $90. The company has a Bullish average Sell Side rating.
- The firm says QCOM's valuation gap to its peers has closed with shares up nearly 40% from an August low.
- Morgan Stanley sees potential tailwinds from new markets, including autos, IoT, and networking, but these will take some time to have a notable impact on financials.
- QCOM shares are down 2.2% pre-market to $92.
Qualcomm -2% after cut for fair valuation
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About QCOM Stock
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| Symbol | Last Price | % Chg |
|---|---|---|
| QCOM | - | - |
| QUALCOMM Incorporated | ||