Zeev's Turnips Patch-No Politics (ZEEV)

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09:03 ET Qualcomm estimates raised at Merrill (QCOM) 66.29: Merrill Lynch raising 2004-2005 EPS estimates and target on Qualcomm, based on introduction of WCDMA estimates and strong demand for CDMA handsets. The firm is raising 2004 EPS esti from $1.76 to $1.78 and for 2005 from $1.85 to $1.96 as they now assume a 7% WDCMA penetration in 2005 representing 36 mln handsets in Japan and W. Europe based on statements from the leading operator, Vodafone, and capex guidance of other operators suggest that the technology is rapidly becoming a certainty. Price tgt goes to $75 from $65.