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Fly News Breaks for December 14, 2016
NXPI, QCOM
Dec 14, 2016 | 05:50 EDT
JPMorgan analyst Rod Hall downgraded Qualcomm (QCOM) to Neutral saying the shares are near fair value while the global consumer picture "remains negative." Returns are dominated by the NXP Semiconductors (NXPI) deal, which isn't expected to close until late 2017, Hall tells investors in a research note. The analyst sees better return opportunities elsewhere in the Semiconductor sector in 2017. Hall keeps a $70 price target for Qualcomm shares. The chipmaker closed yesterday up 87c to $69.34.
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