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Upgrade Alert for QUALCOMM (QCOM)

By Amy Schwartz

QUALCOMM (NASDAQ:QCOM) was upgraded from Neutral to Buy at Mizuho today. The stock closed yesterday at $67.45 on volume of 42.9 million shares, above average daily volume of 8.9 million.

QUALCOMM (NASDAQ:QCOM) is currently priced 5.7% above its average consensus analyst price target of $63.61. The stock should discover initial support at its 200-day moving average (MA) of $52.93 and subsequent support at its 50-day MA of $51.53.

QUALCOMM Incorporated develops and delivers digital wireless communications products andservices based on the Company's CDMA digital technology. The Company's businessareas include integrated CDMA chipsets and systems software, t echnology licensing, Eudora email software for Windows and Macintosh platforms, and satellite based systems including Omnitracs and Globalstar systems.

QUALCOMM share prices have moved between a 52-week high of $78.53 and a 52-week low of $42.24 and closed yesterday at 60% above that low price at $67.45 per share. The 200-day and 50-day moving averages have moved 0.51% lower and 0.03% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of QUALCOMM on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.77. Since that recommendation, shares of QUALCOMM have risen 32.8%. We continue to monitor QCOM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Qualcomm

Ticker(s): QCOM