Morgan Stanley upgraded Qualcomm to Overweight with a $75 price target. The firm believes the market is too pessimistic on Qualcomm and sees upside from new product releases, cost cutting, and improving industry structure and conditions. Morgan Stanley believes Qualcomm has better prospects with the next generation of Snapdragon and sees multiple potential drivers that include better-than-expected chip shipments in the September quarter, the production shift to new foundry partners, and an improved royalties in China from new licensing agreements.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here