Qualcomm Inc (QCOM)

[khemara_qc]

Qualcomm "overweight"The target price is set to $48.

Friday, August 12, 2005 6:17:05 AM ET
Prudential Financial

http://www.newratings.com/analyst_news/article_967492.html

NEW YORK, August 12 (newratings.com) - Analyst Inder M Singh of Prudential Financial maintains his "overweight" rating on Qualcomm Inc (QCOM.NAS). The target price is set to $48.

In a research note published yesterday, the analyst mentions that the company has announced the acquisition of Flarion Technologies for $600 million in cash and stock, as well as a future payment of $205 million dependent on the achievement of performance milestones. The deal, expected to close by end-CY05, offers Qualcomm access to the 4G wireless markets through Flarion's Flash-OFDM technology, the analyst adds. Qualcomm expects the acquisition to be dilutive to its FY06 EPS by approximately $0.03.