Citi has revised its outlook on Qualcomm (QCOM, Financial), enhancing its estimates due to higher-than-anticipated demand for handsets, particularly driven by the Chinese market. The firm has initiated a "30-day positive catalyst watch" on Qualcomm, suggesting that upcoming earnings could surpass expectations and lead to improved forecasts.
Despite maintaining a Neutral rating on the company, Citi highlights the current low market sentiment, suggesting that the current valuation of Qualcomm shares is reasonable. This evaluation comes as Qualcomm prepares to release its earnings, with potential for a "beat and raise" scenario.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 31 analysts, the average target price for Qualcomm Inc (QCOM, Financial) is $196.45 with a high estimate of $270.00 and a low estimate of $145.00. The average target implies an upside of 44.72% from the current price of $135.74. More detailed estimate data can be found on the Qualcomm Inc (QCOM) Forecast page.
Based on the consensus recommendation from 40 brokerage firms, Qualcomm Inc's (QCOM, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Qualcomm Inc (QCOM, Financial) in one year is $167.01, suggesting a upside of 23.04% from the current price of $135.74. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Qualcomm Inc (QCOM) Summary page.
