Qualcomm initiated with "buy"

20.12.06 - Pac. Growth Equities

NEW YORK, December 20 (newratings.com) - Analyst Satya Chillara of Pacific Growth Equities initiates coverage of Qualcomm Incorporated (QCOM) with a "buy" rating.

In a research note published yesterday, the analyst mentions that the company is likely to benefit from the issuance of 3G licenses in China. Qualcomm?s market share has improved from 10%-12% in 2005 to 18%-20% in 2006, which is likely to reach 30%-35% during the forthcoming couple of years, as the company initiates shipping to Motorola in late 2007-2008, the analyst says. The company is expected to post its F1Q07 revenues short of and EPS in-line with the consensus, Pacific Growth Equities adds.