Wells Fargo analyst David Wong resumed coverage of Qualcomm with a Market Perform rating and $65 price target. The analyst sees risks to Qualcomm shares from slowing growth in the smartphone end market and the possibility that the company might fail to achieve a positive resolution to the current licensing disputes or that new disputes might arise with other licensing customers.

Evercore ISI initiated coverage of Qualcomm with an In Line rating and $177 price target. On the negative side, the firm views it as "a Cellphone Era play" with limited unit growth potential with about 80% of Qualcomm's revenues from handset markets via licenses and chipsets. However, on the positive side, Qualcomm has been among IoT processing vendors and is looking to expand the total addressable market by offering processing solutions to new markets such as Automotive, IoT and PC, adds the firm, which looks to get more constructive with visibility into success in these emerging markets.