10:05 AM EDT, 07/31/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain our 12-month target at $185, based on a P/E of about 15x but shifting to our CY 27 EPS estimate of $12.30, below peers but near historical averages (10-year at 16x). After posting largely in-line Jun-Q EPS/Sep-Q guide, we keep our FY 25 (Sep.) EPS estimate at $11.84 but reduce FY 26 to $11.95 from $12.25. We initiate FY 27 at $12.08. We do believe that once QCOM's revenue mix is better diversified away from Apple (+20% customer), it will warrant a higher valuation, but we think it will be partly offset by potentially lower EPS estimates. We note ongoing concerns about tariff headwinds, both industry and end-market related, and potential pull-in of customer demand. Still, we are encouraged by QCOM's Snapdragon offerings as well as positioning for AI-enabled devices, which is expanding its addressable market and increasing content per device. We see a revenue opportunity of about $22B by FY 29 across the combined IoT, automotive, PCs, and data center areas (we forecast FY 25 around $10 billion).