The S&P 500 Index has reached all-time highs, fueled by optimism around artificial intelligence (AI) and hopes of a rate cut. Analysts are closely monitoring the market, with a particular focus on Qualcomm stock.

Over the last three months, nine analysts have published ratings on Qualcomm stock, offering a diverse range of perspectives from bullish to bearish. The recent ratings indicate a shift in sentiments, with two analysts being somewhat bullish in the last 30 days compared to just one a month ago. Analysts have also established 12-month price targets, with an average target of $142.33, a high estimate of $165.00, and a low estimate of $119.00, signaling an increase of 6.22% from the previous average price target of $134.00.

Decoding Analyst Ratings: A Detailed Look

An in-depth analysis of recent analyst actions unveils how financial experts perceive Qualcomm. Several analysts have made significant adjustments to their ratings and price targets, reflecting their response to recent developments related to Qualcomm. For instance, Tom O’Malley of Barclays raised the rating to ‘Overweight’ and increased the current price target to $155.00 from $140.00. Similarly, John Vinh of Keybanc raised the rating to ‘Overweight’ and set a new price target of $165.00, up from $145.00. On the other hand, Joseph Moore of Morgan Stanley lowered the rating to ‘Equal-Weight’ and decreased the price target to $132.00 from $119.00.

Key Insights

The actions taken by analysts, such as raising, lowering, or maintaining their recommendations, reflect their response to changing market conditions and company performance. These adjustments provide a snapshot of how analysts perceive the current state of the company and its potential for growth.