Qualcomm price target raised to $185 from $155 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on Qualcomm to $185 from $155 and keeps an Overweight rating on the shares. Coming away from a “modest beat and raise” quarter, Qualcomm sees the handset market as generally in-line with seasonality and end-demand, striking a contrast with peers who continue to guide for worse results, content loss, or inventory destocking, the analyst tells investors in a research note.