Argus analyst Jim Kelleher raised the firm’s price target on Qualcomm (QCOM) to $205 from $180 and keeps a Buy rating on the shares after its Q2 earnings beat last week. Demand from Chinese handset makers continues to recover, while its major customer Apple (AAPL) remains high in global smartphone market share, the analyst tells investors in a research note. Qualcomm also has enduring strength in its silicon products and IP portfolio, the firm adds, cutting its FY24 EPS view by 45c to $10.19 amid slowing growth in Qualcomm Technology Licensing segment but boosting its FY25 EPS outlook by 22c to $11.46.
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