Barron's Bounce for Monday: QCOM

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QCOM is going up next week

QUALCOMM, Inc. (NASDAQ:QCOM) shares have been beat with a stick and left for dead since last summer. Finally a publication with some clout is going to bat for them.
The rally for QCOM never lasts more than a few weeks in the last 12 months. The stock took a major hit in February and its been a volatile road since. 
This past week more bad news for QCOM when they cut 2015 earnings and sales forecasts, citing the loss of a key customer and delays in new smartphone launches. The result was a flood of target price reductions by the firms covering the stock:
Apr-23-15 Reiterated Topeka Capital Markets Buy $70 → $67
Apr-23-15 Reiterated FBR Capital Mkt Perform $72 → $70
Apr-23-15 Reiterated Cowen Outperform $76 → $75
Apr-23-15 Reiterated Canaccord Genuity Buy $87 → $80
Apr-23-15 Reiterated Brean Capital Buy $87 → $80
Apr-23-15 Downgrade Exane BNP Paribas Outperform → Neutral $78 → $68

The stock appears to be a bottom or near one. Which is why we are pointing it out for your loyal readers.
Ticker Price 52 Wk-High 52 Wk-Low P/E EPS From 52wk High From 52wk Low Finviz TP % from Finviz TP
QCOM $68.24 $81.97 $62.26 16.16 4.22 -20.12% 9.02% $76.50 12.10%

Expect QCOM to finally get a bounce Monday.  All thanks to Barron's piece this weekend:

A Recharge for Qualcomm

Activist hedge fund Jana Partners has presented the mobile chip titan with ideas for reviving its stock. A 30% upside could be coming.


Bottom line: This could be an ideal time to start a position in QCOM thanks to this plug by Barrons.  QCOM is not dead and could make a great comeback this year and next.