Qualcomm Stock Upgraded: What You Need to Know [The Motley Fool]
S&P Global Inc. (SPGI)
Last s&p global inc. earnings: 4/28 07:10 am
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Source: The Motley Fool
Rosenblatt sees 5G as key to the company's success. Every day, Wall Street analysts upgrade some stocks, downgrade others, and initiate coverage on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope... Qualcomm ( NASDAQ:QCOM ) has had an up-and-down year . One of the biggest names in semiconductor chips globally, Qualcomm shares are up 27% over the past 52 weeks -- but at one point, Qualcomm stock was actually down 28% from its highs of January. Now the question is, will Qualcomm relapse, or is this rally sustainable? One analyst thinks it is. This morning, Rosenblatt Securities announced it's upgrading shares of Qualcomm to buy and assigning a $70 price target. As StreetInsider.com (subscription required) explains, the analyst believes that Qualcomm will benefit as 5G wireless technologies roll out across the globe. Here's what you need to know.
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