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4/17, 2:27 PM (Source: TeleTrader)
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Qualcomm spikes more on stock upgrades

The settlement of a royalty dispute with Apple prompted analysts to raise Qualcomm Inc.'s grade and the company traded almost 11% in the green before the bell on Wednesday, looking at the highest point since November 2014. Advisors at Stifel Nicolaus improved the level to buy from hold and cited its projection that its modems for iPhones will bring $2 per share in earnings. The firm said the discount to the licensing fee is seen as insignificant. The price target was set at $100.

Evercore ISI said the semiconductor maker was given an outperform rating, changing it from the in-line level, and the target was boosted by 50% to $90 per share, which was attributed to the improved outlook in 5G technology. JPMorgan lifted Qualcomm to overweight from neutral and increased the target to $88 per share from $54.

The San Diego–based microchip powerhouse led by chief executive Steven Mollenkopf yesterday finished 23.21% higher at $70.45 per share.

Breaking the News / IT