Qualcomm Inc (QCOM)

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Qualcomm's EPS Growth May Outpace Handset Market
05.26.05, 9:44 AM ET

http://www.forbes.com/markets/2005/05/26/0526automarketscan03.html?partner=yahootix&referrer=


Credit Suisse First Boston reiterated an "outperform" rating and $45 target price on Qualcomm (nasdaq: QCOM - news - people ), saying it expects the company to achieve sustainable revenue and earnings-per-share growth substantially in excess of the global handset market. "We expect WCDMA adoption to accelerate in 2006," CSFB said. The research firm said the 3G start at Vodafone (nyse: VOD - news - people ) has been slow, but that the company has indicated plans to become more aggressive with 3G tariffs to spur adoption. "According to the CSFB European Telecom team, more aggressive 3G pricing could materialize by autumn of this year," CSFB said. The research firm said it believes the inventory overhang in the Americas has largely been worked through given the lower carrier inventory levels in the U.S. and an uptick in CDMA net adds in Brazil. CSFB maintained Qualcomm's fiscal 2005 and 2006 earnings-per-share estimates at $1.14 and $1.46, respectively.