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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Sully- who wrote (59093)8/29/2003 8:18:09 AM
From: Dealer  Read Replies (1) of 65232
 
08:00 ET QCOM Qualcomm target raised at UBS to $38, Neutral rating maintained (40.97)
UBS raises its price target on QCOM to $38 from $33 as the firm now believes that fundamental issues such as chipset inventory correction and declining CDMA handset ASPs are largely reflected in current Street estimates. Firm maintains its Neutral rating on the stock given the current share price and the view that while expectations are more realistic, the shares appear more than fairly valued at this time.
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