Stocks
RBC Lifts Qualcomm Price Target to $180 Amid Amazon Deal
RBC Capital raised its price target for Qualcomm Inc. (NASDAQ:QCOM) to $180 from $160, citing the company's strategic agreement with Amazon as a positive development.
The deal is expected to help Qualcomm establish a foothold in the data center AI segment and reduce risk around management's data center revenue targets for fiscal years 2026 and 2027.
RBC noted that Qualcomm management maintains its fiscal 2026 and 2027 revenue targets, implying Tuesday's disclosure is mostly a formalization or extension of a prior agreement.