Qualcomm price target raised to $165 from $140 at Piper Sandler

Piper Sandler raised the firm’s price target on Qualcomm to $165 from $140 and keeps an Overweight rating on the shares following quarterly results. Overall, the firm continues to be pleased with the steady execution at Qualcomm. The company appears to be benefiting from strong trends at its modem-only customer, Piper adds.