Qualcomm price target raised to $200 from $195 at JPMorgan

JPMorgan analyst Samik Chatterjee raised the firm’s price target on Qualcomm (QCOM) to $200 from $195 and keeps an Overweight rating on the shares. The firm says better revenue and margins drove earnings ahead of consensus. The analyst increased revenue and earnings expectations for the company, and expects the IOT and Autos performance highlights to refocus investors on the long-term expectations around end-market diversification to be outlined by Qualcomm at the upcoming investor day.