Qualcomm price target raised to $165 from $140 at Susquehanna

Susquehanna analyst Christopher Rolland raised the firm’s price target on Qualcomm to $165 from $140 and keeps a Positive rating on the shares. The firm met with management and although visibility is generally low, conversations were focused around channel inventory, lackluster macro especially in China, various stages of the downcycle per end market, and the overall 2024 outlook.