As previously reported, Morgan Stanley analyst James Faucette downgraded Qualcomm to Equal Weight from Overweight with a price target of $90, up from $89. He noted that the stock is up 33% since August as Qualcomm's multiple has expanded relative to other semiconductor companies, which Faucette attributes to the market assigning a high probability of a China-U.S. trade agreement, investors becoming more comfortable in a view that the FTC case won't materially impact the company's business, and expectations for the coming of 5G. Following that outperformance, he sees the risk/reward being more balance and thinks the stock will perform more in-line with peers, Faucette tells investors.

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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