Will This Price Target Increase Help Qualcomm (QCOM) Today?

NEW YORK (TheStreet) -- Qualcomm (QCOM) has had its price target increased to $84 from $79, Oppenheimer said Thursday. The firm also increased its earnings estimates to $5.19 a share from $5.10 a share over fiscal 2014. Full-year 2015 earnings estimates were bumped to $5.67 a share from $5.52 a share.

"Qualcomm remains the best positioned to capitalize from the eventual ramp of 4G-LTE in China. We still see this as a potential upside source, albeit later in the year," analyst Ittai Kidron wrote in the report. 

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TheStreet Ratings team rates QUALCOMM INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate QUALCOMM INC (QCOM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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