Qualcomm upped to Buy, Twilio raised to Overweight: 4 big analyst picks
Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed since Friday: upgrades at Qualcomm, Twilio, International Flavors & Fragrances, and CIENA.
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Citi upgraded Qualcomm (NASDAQ:QCOM) to Buy from Neutral and raised its price target to $160.00 from $110.00, as reported in real-time on InvestingPro. Furthermore, the bank launched a positive catalyst watch on the stock, expecting an upside to Qualcomm's print and guidance when it reports earnings on Jan 31.
The analysts believe that the replenishment of inventory in the handset market will boost Qualcomm's revenue and margins. They anticipate this trend to continue at least through the first quarter of 2024 and expect Qualcomm to increase its market share at Samsung (KS:005930) during this time.
We are raising our F24E revenue and EPS estimates from $37.5 billion and $7.61 to $38.5 billion and $8.16, and our F25E revenue and EPS estimates from $41.0 billion and $8.82 to $41.0 billion and $9.29, respectively.
Piper Sandler upgraded Twilio (NYSE:TWLO) to Overweight from Neutral and raised its price target to $82.00 from $75.00.
The analysts highlighted several reasons for the upgrade. Firstly, Twilio's FCF estimates have significant upside potential due to improved execution on profitability initiatives. Secondly, emerging catalysts such as a potential business split, better marketing budgets, cryptocurrency, and capital returns are noteworthy.
Although there are concerns about the 2024 top-line expectations, the analysts noted that revenue seems to be stabilizing with
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