Qualcomm Inc (QCOM): S&P Says Still Buy Qualcomm Also: analy...

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khemara_qc

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Monday, 02/23/2004 1:58:15 PM

Monday, February 23, 2004 1:58:15 PM

S&P Says Still Buy Qualcomm
Also: analysts' opinions on Hewlett-Packard and Concord EFS

Qualcomm (QCOM ): Maintains 5 STARS (buy)
Analyst: Kenneth Leon, CPA

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Wireless phone maker Qualcomm raised the March-quarter earnings per share guidance to 47 cents to 49 cents, from 34 cents to 37 cents, before losses from its investment segment of 1 cent and 4 cents, respectively. S&P continues to expect Qualcomm shares to outperform the S&P 500 in 2004, and believes stronger global demand for handsets and a better market for wireless systems should benefit Qualcomm's chipset and royalty fees. S&P is raising the earnings per share estimates to $1.75, from $1.52 for fiscal 2004 (Sep.). S&P also is upping the the 2005 estimate to $2.10, from $1.76, and boosting the 12-month target price by $5, to $80. Priced near peers based on 2005 earnings estimates, S&P would buy Qualcomm.

http://www.businessweek.com/investor/content/feb2004/pi20040223_4254_pi010.htm