Stocks
Qualcomm Price Target Raised After Amazon Data Center Deal
RBC Capital has raised its price target on Qualcomm Inc. to $180 from $160 after the company announced a strategic agreement with Amazon.
The deal is seen as a positive development that should help Qualcomm establish a foothold in the data center AI segment, according to RBC.
The firm notes that the agreement reduces risk around management's data center revenue targets for fiscal years 2026 and 2027.
Qualcomm currently trades at $174.09 and has surged 27% over the past six months, but remains undervalued with a Fair Value of $192.20, according to InvestingPro data.