Qualcomm price target raised to $145 from $130 at BofA

BofA analyst Tal Liani raised the firm’s price target on Qualcomm to $145 from $130 and keeps a Buy rating on the shares as the firm adjusted targets for several stocks across its Data Networking and Cybersecurity coverage universe. The firm believes Qualcomm’s key risks are “well understood by investors and priced into the stock at this point” and it remains focused on the belief the stock should recover as handset and IoT channel inventories normalize, Chinese handset demand improves, and IoT and Automotive demand recovers.