Qualcomm Inc (QCOM)

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QCOM upgraded, price target raised at CSFB (QCOM) By Tomi Kilgore
8:40am 04/14/05

http://www.marketwatch.com/news/newsfinder/pulseone.asp?siteid=yhoo&dateid=38456.3613562037-8341....

NEW YORK (MarketWatch) -- Qualcomm Inc. (QCOM) was upgraded to outperform from neutral at CS First Boston on the belief that the wireless technologies company will be able to grow revenue and earnings faster than the global handset market as the adoption its wideband code division multiple access technology is expected to accelerate in 2006 and beyond. Analyst Michael Ounjian also raised his stock price target to $45 from $42.50, his 2006 earnings estimate to $1.49 a share from $1.35 a share, and his revenue forecast to $6.9 billion from $6.5 billion. The stock rose 40 cents, or 1.2%, to $33.30 in Instinet pre-open trading. Meanwhile, Ounjian trimmed his 2005 earnings estimate to $1.14 a share from $1.16 and his revenue projection to $5.8 billion from $5.9 billion. Separately, CS First Boston raised its 2005 global mobile handset growth forecast by 6% to 740 million units and its 2006 forecast by 8% to 797 million units.