Qualcomm "overweight"

07.03.06 - Prudential Financial

NEW YORK, March 7 (newratings.com) - Analyst Inder M Singh of Prudential Financial maintains his "overweight" rating on Qualcomm Inc (QCOM). The target price is set to $57.

In a research note published yesterday, the analyst mentions that the company is well positioned to benefit from the accelerated adoption of 3G technology going forward. The complaints filed by six companies against Qualcomm with the European Commission are unlikely to have a financial impact on the company for at least another one year, the analyst adds.