Qualcomm upgraded to Buy from Neutral at Mizuho

Mizuho analyst Vijay Rakesh upgraded Qualcomm (QCOM) to Buy from Neutral with a price target of $100, up from $80. The chipmaker closed Thursday up 1c to $90.48. Much of Qualcomm's 4G handset risk is "in the rear view mirror," and the company is positioned well for 5G ramps in 2020 and 2021, Rakesh tells investors in a research note. The analyst believes Qualcomm could see better average selling prices at its CDMA Technologies unit, supplying 5G modems at $15-$20 versus the current $10 for 4G. 2020 could see 200M 5G phones versus less than 20M in 2019, according to Rakesh. For Qualcomm, Samsung (SSNLF) and Apple (AAPL) should start to drive better 5G sales in 2020, he contends.