Analyst: Plenty of Tailwinds Blowing for Chip Stock

The shares of semiconductor concern Qualcomm, Inc. (NASDAQ:QCOM) is 1.6% higher in premarket trading, pacing to open up above $141 after Citigroup upgraded the stock to "buy" from "neutral" and hiked its price target by $50 to $160. The analyst raised its revenue and earnings per share (EPS) guidance on Qualcomm, citing inventory replenishment in the handset space that they believe will continue through the first quarter of 2024.While the majority of analysts are already optimistic, there's still some room ...