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QCOM

Qualcomm

$74.25

17.06 (29.83%)

, AAPL

Apple

$199.00

-0.21 (-0.11%)

06:42
04/17/19
04/17
06:42
04/17/19
06:42

JPMorgan upgrades Qualcomm after 'overwhelmingly positive' Apple settlement

JPMorgan analyst Samik Chatterjee upgraded Qualcomm (QCOM) to Overweight from Neutral and raised his price target for the shares to $88 from $54. The stock in premarket trading is up 5%, or $3.82, to $74.27 after rallying 23% before yesterday's close. The settlement with Apple (AAPL) appears to be "overwhelmingly positive for Qualcomm despite the absence of details at this time," Chatterjee tells investors in a research note. The agreement includes a six-year patent licensing agreement and a multi-year chipset agreement, estimated by Qualcomm to drive earnings accretion of $2 per share, the analyst points out. Further, he believes the agreement opens up the opportunity for Qualcomm to resume chipset supply to Apple. Chatterjee says his upgrade of Qualcomm reflects a combination of upside driven by 5G leadership and dissipation of downside risks from litigations following the agreement with Apple.

QCOM

Qualcomm

$74.25

17.06 (29.83%)

AAPL

Apple

$199.00

-0.21 (-0.11%)

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QCOM Qualcomm
$74.25

17.06 (29.83%)

04/17/19
JPMS
04/17/19
UPGRADE
Target $88
JPMS
Overweight
Qualcomm upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Samik Chatterjee upgraded Qualcomm to Overweight from Neutral and raised his price target for the shares to $88 from $54.
04/17/19
EVER
04/17/19
UPGRADE
EVER
Outperform
Qualcomm upgraded to Outperform from In Line at Evercore ISI
04/17/19
MZHO
04/17/19
NO CHANGE
Target $82
MZHO
Buy
Qualcomm price target raised to $82 from $62 at Mizuho
Mizuho analyst Vijay Rakesh raised his price target for Qualcomm (QCOM) to $82 from $62 after the company reached an agreement with Apple (AAPL) which dismisses all litigation. The settlement will be an "immediate bump" to QTL license revenue starting in the June quarter for Qualcomm, while the new six-year license agreement provides a 5G opportunity at Apple, Rakesh tells investors in a research note. He reiterates a Buy rating on Qualcomm shares.
04/16/19
STFL
04/16/19
UPGRADE
Target $100
STFL
Buy
Qualcomm upgraded to Buy from Hold at Stifel
Stifel analyst Kevin Cassidy upgraded Qualcomm (QCOM) to Buy and raised his price target to $100 from $57, saying today's "surprise" agreement with Apple (AAPL) to settle all pending litigation removes a legal overhang that persisted for the past two years. The analyst also contends that the concession made by Apple was designed to make sure that a 5G iPhone would be available in the market in 2020 and may signal that Intel's (INTC) 5G modem "may not be production-ready" next year. Shares of Qualcomm have extended their late session 23% spike on the news with another 5.8% gain afterhours, while Intel is trading down about 0.6%.
AAPL Apple
$199.00

-0.21 (-0.11%)

04/17/19
PIPR
04/17/19
NO CHANGE
Target $440
PIPR
Overweight
Netflix Q2 guidance mixed on limited new content, says Piper Jaffray
Netflix (NFLX) last night reported upside for Q1 and provided a mixed Q2 outlook, Piper Jaffray analyst Michael Olson tells investors in a research note. Most importantly, says the analyst, is that international subscriber additions were ahead of expectations for the quarter and essentially in-line for the Q2 guide. For domestic subscribes, Q1 was also ahead of consensus, but Q2 domestic sub guidance is below the Street, adds Olson. He believes Netflix's Q2 is "light on new content" but that its slate "appears strong" for the second half of 2019. Further, despite new services on the horizon from Disney (DIS) and Apple (AAPL), the analyst expects "minimal impact" to Netflix subscriber additions and retention. Olson thinks Netflix will "continue to capture a significant portion of traditional content dollars as they migrate to streaming." The analyst reiterates an Overweight rating on Netflix shares with a $440 price target.
04/12/19
04/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Sell at New Street. 2. Chesapeake (CHK) downgraded to Sell from Neutral at Goldman Sachs. 3. Grainger (GWW) downgraded to Underperform at Gordon Haskett with analyst John Inch citing his view of the risk that Grainger's U.S. sales significantly decelerate, driven by his analysis of web data. 4. LogMeln (LOGM) downgraded to Underweight from Overweight at Barclays with analyst Raimo Lenschow saying the core LogMeln offering around the Gravity platform is at the end of its growth trajectory, as the impact of pricing is weakening. 5. Crown Castle (CCI) downgraded to Neutral from Buy at Guggenheim with analyst Robert Gutman saying secular strength is now reflected in valuation and raised his price target to $127 from $120. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/12/19
MSCO
04/12/19
NO CHANGE
Target $220
MSCO
Overweight
Apple installed base share grew in China again in March, says Morgan Stanley
Data from Jiguang indicate that Apple's share of the Chinese smartphone installed base grew about 300 basis points year-over-year in March, according to Morgan Stanley analyst Katy Huberty, who notes that this was the third consecutive month of installed base share gain in China for Apple. March was also the strongest month of year-over-year installed base share gains in China in 15 months, noted the analyst, who has an upward bias to her below-consensus iPhone forecast for the March-end quarter. Huberty keeps an Overweight rating on Apple with a $220 price target.

TODAY'S FREE FLY STORIES

FAF

First American

$56.18

0.17 (0.30%)

06:48
04/25/19
04/25
06:48
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06:48
Earnings
First American reports Q1 EPS 74c, consensus 68c »

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NVT

nVent Electric

$28.40

0.19 (0.67%)

06:47
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06:47
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06:47
Earnings
nVent Electric reports Q1 adjusted EPS 39c , consensus 39c »

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ENB

Enbridge

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Enbridge rating change  »

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GBNXF

Gibson Energy

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04/25/19
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06:45
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Gibson Energy rating change  »

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LAD

Lithia Motors

$104.90

7.19 (7.36%)

06:45
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Upgrade
Lithia Motors rating change  »

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BBU

Brookfield Business Partners

$37.80

-0.17 (-0.45%)

06:45
04/25/19
04/25
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06:45
Hot Stocks
Brookfield Business Partners selling BGRS for $230M in proceeds »

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CBZ

CBIZ

$20.59

-0.005 (-0.02%)

06:44
04/25/19
04/25
06:44
04/25/19
06:44
Earnings
CBIZ backs FY19 EPS view up 10%-12%, consensus $1.20 »

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NGD

New Gold

$0.88

0.0253 (2.96%)

06:42
04/25/19
04/25
06:42
04/25/19
06:42
Earnings
New Gold reports Q1 adjusted EPS 0c, consensus 1c »

Reports Q1 revenue…

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MTSI

Macom

$15.86

-0.33 (-2.04%)

06:42
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06:42
Downgrade
Macom rating change  »

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CBZ

CBIZ

$20.59

-0.005 (-0.02%)

06:42
04/25/19
04/25
06:42
04/25/19
06:42
Earnings
CBIZ reports Q1 EPS 67c, consensus 70c »

Reports Q1 revenue $270M,…

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BIP

Brookfield Infrastructure

$41.62

-0.03 (-0.07%)

06:42
04/25/19
04/25
06:42
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06:42
Downgrade
Brookfield Infrastructure rating change  »

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WYNN

Wynn Resorts

$144.35

1.35 (0.94%)

06:42
04/25/19
04/25
06:42
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06:42
Upgrade
Wynn Resorts rating change  »

Wynn Resorts upgraded to…

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ALXN

Alexion

$130.12

-2.24 (-1.69%)

06:41
04/25/19
04/25
06:41
04/25/19
06:41
Earnings
Alexion raises FY19 adj. EPS view to $9.25-$9.45 from $9.10-$9.30 »

FY19 consensus $9.31.…

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LUV

Southwest

$52.92

0.11 (0.21%)

06:40
04/25/19
04/25
06:40
04/25/19
06:40
Earnings
Southwest reports Q1 EPS 70c, consensus 61c »

Reports Q1 revenue…

03/08/13
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MMM

3M

$219.24

-0.28 (-0.13%)

06:39
04/25/19
04/25
06:39
04/25/19
06:39
Hot Stocks
Breaking Hot Stocks news story on 3M »

3M drops 6% to $205.00…

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EQT

EQT Corporation

$20.75

-0.26 (-1.24%)

06:39
04/25/19
04/25
06:39
04/25/19
06:39
Earnings
EQT Corporation reports Q1 adjusted EPS 83c, consensus 74c »

Reports Q1 adjusted…

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ALXN

Alexion

$130.12

-2.24 (-1.69%)

06:38
04/25/19
04/25
06:38
04/25/19
06:38
Earnings
Alexion reports Q1 adjusted EPS $2.39, consensus $2.19 »

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BWA

BorgWarner

$43.50

-0.135 (-0.31%)

06:38
04/25/19
04/25
06:38
04/25/19
06:38
Earnings
BorgWarner backs FY19 EPS view $4.00-$4.35, consensus $4.20 »

Backs FY19 revenue view…

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SSNLF

Samsung

$0.00

(0.00%)

, BTC

Bitcoin

$0.00

(0.00%)

06:37
04/25/19
04/25
06:37
04/25/19
06:37
Periodicals
Samsung plans to develop its own Ethereum-based blockchain, token, TNW reports »

Samsung is planning to…

SSNLF

Samsung

$0.00

(0.00%)

BTC

Bitcoin

$0.00

(0.00%)

BITCOIN

Bitcoin

$0.00

(0.00%)

03/08/13
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VLO

Valero

$87.75

-2.53 (-2.80%)

06:36
04/25/19
04/25
06:36
04/25/19
06:36
Hot Stocks
Valero says expects to invests about $2.5B of capital in 2019, 2020 »

The Houston alkylation…

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BWA

BorgWarner

$43.50

-0.135 (-0.31%)

06:36
04/25/19
04/25
06:36
04/25/19
06:36
Earnings
BorgWarner sees Q2 adj. EPS 99c-$1.05, consensus $1.07 »

Sees Q2 organic sales…

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  • 25

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VLO

Valero

$87.75

-2.53 (-2.80%)

06:36
04/25/19
04/25
06:36
04/25/19
06:36
Earnings
Valero reports Q1 EPS 34c, consensus 29c »

Reports Q1 revenue…

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XRX

Xerox

$33.68

-0.53 (-1.55%)

06:35
04/25/19
04/25
06:35
04/25/19
06:35
Earnings
Xerox raises 2019 adjusted EPS view to $3.80-$3.95 from $3.70-$3.80 »

Consensus for 2019 EPS is…

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MMM

3M

$219.24

-0.28 (-0.13%)

06:35
04/25/19
04/25
06:35
04/25/19
06:35
Hot Stocks
3M CEO says 'the first quarter was a disappointing start to the year' »

"The first quarter…

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MMM

3M

$219.24

-0.28 (-0.13%)

06:34
04/25/19
04/25
06:34
04/25/19
06:34
Hot Stocks
3M sees FY19 organic local-currency sales growth (1%)-2% »

"3M also updated its…

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