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Fly News Breaks for July 18, 2019
QCOM
Jul 18, 2019 | 05:42 EDT
Barclays analyst Blayne Curtis downgraded Qualcomm to Equal Weight from Overweight and lowered his price target for the shares to $75 from $90. The analyst says that while Qualcomm remains one of the best 5G stories, he can't fully discount the potential for a worst case scenario that includes a failed appeal/change to license rates. As such, he believes the stock will be range-bound into next year. Further, in the near term, there is potential for downside to estimates since Huawei was never removed and the global handset market continues to be soft, Curtis tells investors in a research note.
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