Barclays Maintains Their Buy Rating on Qualcomm Inc (QCOM)

By Austin Angelo

Barclays analyst Blayne Curtis maintained a Buy rating on Qualcomm Inc (QCOMResearch Report) yesterday and set a price target of $70. The company’s shares closed yesterday at $54.77.

According to TipRanks.com, Curtis is a 5-star analyst with an average return of 8.3% and a 58.2% success rate. Curtis covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Smart Global Holdings Inc, and Quantenna Communications.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Qualcomm Inc with a $67 average price target, which is a 22.3% upside from current levels. In a report issued on January 3, Canaccord Genuity also maintained a Buy rating on the stock with a $75 price target.

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Based on Qualcomm Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5.8 billion and GAAP net loss of $493 million. In comparison, last year the company earned revenue of $6.07 billion and had a GAAP net loss of $5.95 billion.

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QUALCOMM, Inc. engages in the development, design, and provision of digital telecommunications products and services. It operates through the following segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI).