Mizuho analyst Vijay Rakesh has learned that Qualcomm (QCOM. US) lowered its share price target to $165 from $180 and maintained a "buy" rating on the stock.
The analyst said that while Qualcomm's operations in some regions may face some headwinds, the undesirable effects could be offset by the fact that its high-margin QTL business and the growth of iPhone sales are likely to push the company's overall profit margin upwards.