Qualcomm "overweight"

07.04.06 - Prudential Financial

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

In a research note published yesterday, the analyst mentions that the company has expressed its optimism regarding the long-term prospects of its chip business. Qualcomm is well positioned to receive CDMA business from the Nokia/Sanyo joint venture and WCDMA business from Motorola in the forthcoming months, the analyst adds.