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QCOM

Qualcomm

$81.97

2.08 (2.60%)

, AAPL

Apple

$204.62

0.79 (0.39%)

07:28
04/23/19
04/23
07:28
04/23/19
07:28

Morgan Stanley upgrades Qualcomm, thinks Apple pact not yet fully appreciated

As previously reported, Morgan Stanley analyst James Faucette upgraded Qualcomm (QCOM) to Overweight from Equal Weight, citing his view that the market has "not yet fully appreciated" the impact of the company's settlement with Apple (AAPL), which he thinks not only increases earnings substantially while also expanding the freedom with which Qualcomm can pursue new opportunities. Faucette thinks the settlement reinforces two key Qualcomm tenets - the best modem performance matters and that the best intellectual property has value. While he takes a more conservative view than most on the pace of 5G ramp, Faucette said he views Qualcomm as "the key enabler" of 5G technology. He raised his price target on Qualcomm shares to $95 from $55.

QCOM

Qualcomm

$81.97

2.08 (2.60%)

AAPL

Apple

$204.62

0.79 (0.39%)

  • 30

    Apr

  • 01

    May

  • 03

    Jun

QCOM Qualcomm
$81.97

2.08 (2.60%)

04/18/19
DZBN
04/18/19
UPGRADE
DZBN
Buy
Qualcomm upgraded to Buy from Hold at DZ Bank
04/18/19
ARGS
04/18/19
NO CHANGE
Target $225
ARGS
Buy
Apple to benefit from Qualcomm litigation settlement, says Argus
Argus analyst Jim Kelleher kept his Buy rating and $225 price target on Apple (AAPL), saying the company's "comprehensive legal settlement and new supply agreement with Qualcomm (QCOM)" should benefit the shares. The analyst notes that the decision to settle was driven by the realization that Apple may miss out on the 5G phone cycle upgrade, and the announcement by Intel (INTC) within hours of the settlement highlighted that the Street was more optimistic about its development of a viable 5G chip. Kelleher adds that the cost burden for Qualcomm chip and licensing is not "too severe", which he estimates to be below $25 on devices that may retail for over $1.1K. The analyst also notes that Apple stock remains "attractive compared to its historical valuations and to peer average multiples."
04/18/19
04/18/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. PepsiCo (PEP) upgraded to Neutral from Sell at Goldman Sachs with analyst Judy Hong citing its "strong" Q1 results that saw organic revenue accelerate to 5% and gross margins top expectations. 2. J.M. Smucker (SJM) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Pamela Kaufman saying she believes the company's reinvestment strategy will drive improved topline momentum across its key segments and should allow the company to return to positive organic growth in FY20. 3. Venator Materials (VNTR) upgraded to Outperform from Sector Perform at RBC Capital with analyst Arun Viswanathan saying he believes that the titanium dioxide "cycle is turning", with destocking activity nearing completion amid improving global demand and pricing. 4. Ecolab (ECL) upgraded to Buy from Neutral at Nomura Instinet with analyst Dan Dolev saying with the problematic energy business soon to be spun-off, Ecolab's "recession resistant qualities should stand out, warranting a significant premium to peers." 5. Qualcomm (QCOM) upgraded to Buy from Hold at DZ Bank. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/23/19
MSCO
04/23/19
UPGRADE
MSCO
Overweight
Qualcomm upgraded to Overweight from Equal Weight at Morgan Stanley
AAPL Apple
$204.62

0.79 (0.39%)

04/18/19
MSCO
04/18/19
NO CHANGE
MSCO
Overweight
Morgan Stanley prefers Seagate over Western Digital as cloud capex recovery play
Morgan Stanley analyst Katy Huberty said her industry conversations have increased her confidence in a cloud recovery in the second half. Her checks suggest orders from Microsoft (MSFT) will restart in Q2 and rise to above trend levels in Q3 while orders from Amazon (AMZN), Google (GOOGL), Facebook (FB) and Apple (AAPL) are expected to return in Q3. Given this context, Huberty said she prefers Seagate (STX) over Western Digital (WDC) as a play on a cloud capital expenditure recovery, noting that inventory levels position hard disk drives to benefit before NAND, that HDD pricing is structurally better positioned than NAND and her view that Seagate has a better HDD product portfolio to meet cloud demand in the second half of 2019 and first half of 2020. Huberty has an Overweight rating on Seagate and the firm has an Equal Weight rating on Western Digital, which is covered by analyst Joseph Moore.
04/23/19
PIPR
04/23/19
NO CHANGE
PIPR
Piper sees U.S. ride-hailing market reaching $500B per year by 2040
Piper Jaffray expects the U.S. ride-hailing market will achieve annual revenue of $500B per year by 2040, analysts led by Alexander Potter tell investors in a research note. The firm, which utilized baseline data from the National Household Travel Survey, expects ride-hailing growth to continue, with around one-third of urban trips relying on shared third-party vehicles in 2040. This compares to a baseline of only 1.4% in 2017, and equates to a 20-year annual growth rate of ~14%, the analysts contend. Of the stocks with exposure to this trend, Piper prefers Lyft (LYFT), General Motors (GM) and NXP Semiconductors (NXPI). Other covered companies also warrant mention, including Apple (AAPL), Amazon.com (AMZN), Aptiv (APTV), Ford (F), Nvidia (NVDA), and Tesla (TSLA), says Piper.
04/23/19
WELS
04/23/19
NO CHANGE
Target $190
WELS
Market Perform
Wells Fargo cuts iPhone shipment view, cautious on Apple ahead of earnings
Wells Fargo analyst Aaron Rakers said he believes year-to-date strength in Apple (AAPL) has been driven by a view that iPhone weakness is well-known and bottoming at this point, Apple's expanding subscription services narrative, Apple indexing funds chasing performance and some confidence added by the Qualcomm (QCOM) settlement. Based on his tracking of several intra-quarter iPhone related data points, he reduced quarterly iPhone shipment estimate to 40.4M units and reduced his revenue and EPS estimates to $56.6B and $2.38, respectively, from $58.3B and $2.45. Rakers keeps a Market Perform rating on Apple's shares with a $190 price target.

TODAY'S FREE FLY STORIES

SQ

Square

$64.11

1.2 (1.91%)

08:58
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General news
Redbook Store Sales data reported »

Week of 8/17 Redbook…

PCG

PG&E

$10.67

-3.63 (-25.38%)

, GE

General Electric

$8.67

-0.12 (-1.37%)

08:55
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Options
Notable open interest changes for August 20th »

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PCG

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$10.67

-3.63 (-25.38%)

GE

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$8.67

-0.12 (-1.37%)

AMD

AMD

$31.45

0.27 (0.87%)

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HJLI

Hancock Jaffe Laboratories

$1.03

0.0455 (4.62%)

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NOVA

Sunnova Energy

$11.13

0.089 (0.81%)

08:55
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Initiation
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JEC

Jacobs Engineering

08:54
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Conference/Events
Jacobs Engineering to host conference call »

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SRPT

Sarepta

$120.16

-4.81 (-3.85%)

08:54
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Sarepta analyst commentary  »

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PYPL

PayPal

$107.64

1.52 (1.43%)

08:54
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KSHB

KushCo Holdings

$0.00

(0.00%)

, GTBIF

Green Thumb Industries

$0.00

(0.00%)

08:51
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Hot Stocks
KushCo Holdings adds former Green Thumb CEO Pete Kadens to advisory board »

KushCo Holdings (KSHB)…

KSHB

KushCo Holdings

$0.00

(0.00%)

GTBIF

Green Thumb Industries

$0.00

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  • 05

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SOLO

ElectraMeccanica

$2.23

0.03 (1.36%)

, TSLA

Tesla

$226.75

6.83 (3.11%)

08:51
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Hot Stocks
ElectraMeccanica appoints David Neace as director of sales »

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SOLO

ElectraMeccanica

$2.23

0.03 (1.36%)

TSLA

Tesla

$226.75

6.83 (3.11%)

03/08/13
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RCAR

RenovaCare

$0.00

(0.00%)

08:49
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RenovaCare appoints Robin Robinson as VP, scientific affairs »

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SRPT

Sarepta

$120.16

-4.81 (-3.85%)

08:49
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08/20
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Sarepta analyst commentary  »

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EL

Estee Lauder

$201.74

22.48 (12.54%)

08:48
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08:48
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Recommendations
Estee Lauder analyst commentary at RBC Capital »

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EEVVF

Eve & Co

$0.00

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08:47
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Eve & Co announces new sales channel in Manitoba »

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PRSP

Perspecta

$24.54

0.23 (0.95%)

08:46
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Perspecta awarded contract by U.S. NIWC Pacific »

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CETX

Cemtrex

$1.52

0.15 (10.95%)

08:45
08/20/19
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Earnings
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PYX

Pyxus

$14.91

0.135 (0.91%)

, INSG

Inseego

$4.11

0.07 (1.73%)

08:45
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Options
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PYX

Pyxus

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0.135 (0.91%)

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Inseego

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MNKD

MannKind

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Williams-Sonoma

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PRTY

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CLDR

Cloudera

$6.70

0.02 (0.30%)

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BIEL

BioElectronics

$0.00

(0.00%)

08:43
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ZURVY

Zurich Insurance

$0.00

(0.00%)

08:42
08/20/19
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08:42
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Upgrade
Zurich Insurance rating change  »

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MSI

Motorola Solutions

$176.89

3.64 (2.10%)

08:42
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Hot Stocks
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TJX

TJX

$51.55

0.13 (0.25%)

08:41
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Breaking Hot Stocks news story on TJX »

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  • 20

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08:41
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Conference/Events
Cambridge Healthtech Institute to hold a summit »

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SYNC

Synacor

$1.41

(0.00%)

08:41
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Synacor wins more than 300 Zimbra deals in Q2 »

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  • 12

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BREW

Craft Brew

$12.84

-0.76 (-5.59%)

, COST

Costco

$275.55

1.55 (0.57%)

08:40
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Conference/Events
Cowen to hold a bus tour »

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BREW

Craft Brew

$12.84

-0.76 (-5.59%)

COST

Costco

$275.55

1.55 (0.57%)

MOD

Modine Manufacturing

$9.82

-0.275 (-2.73%)

SBUX

Starbucks

$96.64

0.13 (0.13%)

03/08/13
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TBLT

ToughBuilt

$0.55

0.0105 (1.96%)

08:40
08/20/19
08/20
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Earnings
ToughBuilt reports Q2 revenue $4.75M vs. $4.53M last year »

Michael Panosian, Chief…

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