Qualcomm upgraded to "buy"

07.09.06 - A.G. Edwards & Sons

NEW YORK, September 7 (newratings.com) - Analysts at AG Edwards upgrade Qualcomm Incorporated (QCOM) from "hold" to "buy." The target price is set to $46.

In a research note published yesterday, the analysts mention that the company?s share price has declined significantly in the previous several months. AG Edwards believes that the transition towards WCDMA has significantly expanded Qualcomm?s addressable market opportunity. The transition is, thus, expected to drive the company?s growth potential in the forthcoming few years, the analysts add.