HSBC Downgrades Qualcomm to Hold, Announces $200 Price Target
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Frank Lee has downgraded Qualcomm (NASDAQ:QCOM) from Buy to Hold and set a price target of $200.
July 17, 2024 | 11:09 am
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HSBC analyst Frank Lee has downgraded Qualcomm from Buy to Hold and set a price target of $200.
The downgrade from Buy to Hold by HSBC is likely to have a negative short-term impact on Qualcomm's stock price as it signals reduced confidence in the stock's immediate upside potential. The $200 price target may also be seen as a cap on potential gains.
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