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Research Alert: CFRA Maintains Buy Opinion On Shares Of Qualcomm

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target price to $300 from $220, on P/E of about 24x our CY 28 EPS estimate of $12.50, above peers and historical averages to reflect emerging growth opportunities and diversification. We keep our FY 26 EPS at $10.67 and FY 27's at $10.75. We start FY 28 at $12.15. Our positive outlook reflects several factors that we believe are underappreciated by the market at current valuation levels. We see QCOM successfully executing its diversification strategy with tangible momentum in automotive, IoT, and the emerging data center opportunity, reducing reliance on the cyclical handset market and mitigating risks from the Apple modem transition. The near-term handset weakness led by memory supply constraints appears transitory and supply-driven rather than demand-driven, with a trough seen in Android markets during the Jun-Q. QCOM's entry into data center custom silicon also represents a material new revenue stream with favorable economics, validated by a multi-generation hyperscaler engagement.

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Research Alert: CFRA Maintains Buy Opinion On Shares Of Canadian Imperial Bank Of Commerce

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target price by USD6 to USD141, 17.3x our FY 27 (Oct.) EPS view of CAD11.28 (USD8.17), a premium to the bank's five-year forward P/E average of 9.9x to reflect CM's strong capital position, decreased office exposure in the U.S., as well as momentum in wealth management and capital markets. We raise our FY 26 EPS to CAD10.46 from CAD10.06 and increase FY 27's to CAD11.28 from CAD10.70. CM is performing well, with improving operational efficiency and strong balance sheet growth expected to drive record earnings in both FY 26 and FY 27. We view the bank's recent strategic decisions positively: CM is divesting its 92% stake in CIBC Caribbean for USD1.6 billion and has agreed to acquire a minority stake in Ann Partners, a U.S. private wealth management firm with USD54 billion in assets under management. This strategic shift makes sense as U.S. wealth management offers attractive, stable returns, while Caribbean operations carry higher currency and economic risks. Shares yield 2.9%.

$CM
Research

Research Alert: CFRA Maintains Buy Opinion On Shares Of Canadian Imperial Bank Of Commerce

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target price by USD6 to USD141, 17.3x our FY 27 (Oct.) EPS view of CAD11.28, a premium to the bank's five-year forward P/E average of 9.9x to reflect CM's strong capital position, decreased office exposure in the U.S., as well as momentum in wealth management and capital markets. We raise our FY 26 EPS to CAD10.46 from CAD10.06 and increase FY 27's to CAD11.28 from CAD10.70. CM is performing well, with improving operational efficiency and strong balance sheet growth expected to drive record earnings in both FY 26 and FY 27. We view the bank's recent strategic decisions positively: CM is divesting its 92% stake in CIBC Caribbean for USD1.6 billion and has agreed to acquire a minority stake in Ann Partners, a U.S. private wealth management firm with USD54 billion in assets under management. This strategic shift makes sense as U.S. wealth management offers attractive, stable returns, while Caribbean operations carry higher currency and economic risks. Shares yield 2.9%.

$CM
Research

South Bow Maintained at Hold at TPH Following Prairie Connector Open Season; Price Target at C$52.00

Tudor, Pickering, Holt on Friday maintained its hold rating on the shares of South Bow (SOBO.TO, SOBO) with a C$52.00 price target after the oil-pipeline company secured binding commitments from shippers for its planned Prairie Connector pipeline project."This morning, SOBO announced a successful open season for its proposed Prairie Connector pipeline project, securing 20-year binding commitments from Hardisty, AB to US delivery points. Management is targeting an FID by mid-2027, contingent on securing remaining permits, government assurances for permit durability, advancing execution plans, finalizing cost estimates, and securing financing. The company said it will provide additional details on pre-FID activities and associated spending as part of its Q2'26 disclosures. In our view, the successful open season clears a significant milestone, highlighting shipper interest for the project. However, with a year to go before reaching positive FID, there's still some lingering execution risk, particularly around the durability of the permits. Without assurances that a new US administration would revoke the permits in 2029, as Biden did with KXL, the project is likely to be stalled. Should things progress positively, Prairie Connector would consist of approximately 380 km of new 36-inch pipeline from Hardisty to the Canada-U.S. border, where it would connect to Bridger Pipeline LLC's downstream facilities, while also leveraging roughly 150 km of previously installed and preserved 36-inch pipe and two pump stations," analyst AJ O'Donnell wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $50.25, Change: $-0.83, Percent Change: -1.62%

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