Loop Capital Upgrades Qualcomm, Raises Price Target to $185 (32% Upside)
Loop Capital upgraded Qualcomm to Buy from Hold and lifted its price target to $185 from $140, implying 32% upside. Shares have fallen 13% over the past year and 18% this year while potential new data center customers and growth in automotive and IoT segments offer fresh catalysts.
1. Upgrade Details and Price Target
Loop Capital raised its rating on Qualcomm to Buy from Hold and increased the twelve-month price target to $185 from $140, signaling expected upside of approximately 32% from current levels as headwinds ease.
2. Recent Share Performance
Qualcomm shares have declined roughly 13% over the past 12 months and an additional 18% year-to-date, reflecting pressure from supply constraints and delayed data center AI adoption.
3. Growth Catalysts and Segment Outlook
The analyst cited improving chip supply conditions, an early June analyst day for data center strategy updates, potential new data center customers, and diversification into automotive and Internet of Things segments as key drivers for rebuilding momentum.