TD Cowen Raises Qualcomm Price Target to $200
TD Cowen analyst Joshua Buchalter raised the price target on Qualcomm (NASDAQ: QCOM) to $200.00 (from $150.00) while maintaining a Buy rating.
“Handsets Weak; Limited Details, But Custom Silicon Added To The Narrative; Print/guide were soft as expected in Handsets, but a new, multi-gen custom silicon win at a hyperscaler took center stage… though details were scant.
Handset exposure and narrative will remain a battle, but we see trough F2027 EPS at $10.
Without giving meaningful credit to the DC opportunity, and at 18x P/E, we see upside bias as Auto, IoT, and potentially datacenter layer in. Buy, PT to $200.”
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