Tim, all. With apologies in advance for not providing you folks with a link that will take you directly to the article [don't know how], there are 2 reasons to head your browser here:
sfgate.com
Go to Section E (Business), page E3. There are two write-ups, the first "Area Startup Wins Deals With Nokia, Ericsson", which reprints John Markoff's article on GPS, and Sirf Technology, Inc. [both these references are for today's edition, 8/10]
The second article is immediately above the first: "Qualcomm/Stock of the Week", which is a regular feature with an 'Upside'/'Downside' profile.
In summary, Pete Peterson of Volpe Brown Whelan & Co. (San Francisco) gives the upside. His rating is "Buy". Marc Cabi of Credit Suisse/ First Boston (San Francisco) takes the flip side. His rating is "Hold", but appended to that is the last sentence of his write-up: "We think that [earnings recovery next year] will be difficult and that the stock will under-perform and go down from here".
I have previously posted that a local household name firm in SF has a strong distaste for the Mighty Q; that cat is now out of the bag. I have NEVER in several years of following the Upside/Downside feature seen an analyst state that he thinks "the stock will go down from here". Clearly, I have seen analysts rip a stock and one could read between the lines and come to that conclusion, but this explicitly? Not once.
Cabi's write-up is extremely negative in the body of his report as you might imagine. Got my week off to a crappy start. Comments? Mike Doyle |
