Baird Cuts QUALCOMM (QCOM) Price Target to $177 from $200

NodeGuardian · 2026-02-25T05:47:33+00:00

Baird has reduced QUALCOMM's price target to $177 while keeping an Outperform rating, indicating a transitional fiscal 2026 amidst a challenging smartphone market, despite record first-quarter revenue and strong IoT growth.

NodeGuardian

2026-02-25 05:47:33

Abstract generation in progress

Baird has lowered its price target for QUALCOMM Incorporated (QCOM) to $177 from $200, while maintaining an Outperform rating. This adjustment follows recent results and signals that fiscal 2026 is expected to be a transitional year for certain markets. Despite a choppy broader smartphone market, Qualcomm reported record fiscal first-quarter revenue and non-GAAP EPS, driven by strong execution and growth in IoT revenue.

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