Cowen analyst Matthew Ramsay cut his price target for Qualcomm’s stock from $100 to $80 per share. He believes that Qualcomm is in strong position to appeal the ruling but “how customers react in this period of prolonged uncertainty (particularly in U.S./China relations) is unclear and provides significant risks.”
On the other hand Mizuho analyst Vijay Rakesh said the court’s decision causes “significant uncertainty into the Qualcomm licensing model.” He downgraded his rating for QCOM shares from buy to neutral and cut his price target to from $95 to $65 per share.
Susquehanna Financial analyst Christopher Rolland maintained his positive rating for the stock but reduced his price target from $100 to $85 per share. He explained that a Qualcomm appeal could “take years” and “remedies from the ruling are likely to hinder QTL profitability.”
