Qualcomm Inc (QCOM): Qualcomm shares get pre-open lift from U...

Reply Private New

Next 10 Prev Next

Send PM Follow Ignore

Followers	0
Posts	1495
Boards Moderated	0
Alias Born	02/14/2004

khemara_qc

Re: None

Monday, 07/17/2006 8:17:15 AM

Monday, July 17, 2006 8:17:15 AM

Qualcomm shares get pre-open lift from UBS upgrade

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7bA2AC0EF5-B722-4193-B3F4-1C41EB8521C9%7d&....

7:53am 07/17/2006

NEW YORK (MarketWatch) -- Shares of Qualcomm (QCOM : QUALCOMM Incorporated(36.37, -0.19, -0.5%) rose 2.1% in pre-open trading after UBS upgraded the wireless technologies company to buy from neutral, due primarily to valuation. Analyst Maynard Um said that while risk surrounding potential European Union investigations and uncertainty over its current royalty agreement with Nokia (NOK : Nokia Corp.(18.57, -0.15, -0.8%) remains, he feels the reward vs. risk profile is "compelling," given the potential growth in the WCDMA market. The stock was last trading up 78 cents at $37.15 on Inet. As of Friday's close, the stock had lost 29% since the end of April. Meanwhile, Um cut his stock price target to $50 from $53.