UPDATE: Deutsche Bank Raises PT on Qualcomm on Market Leader Position

In a report published Monday, Deutsche Bank analyst Brian Modoff reiterated a Buy rating on Qualcomm (NASDAQ: QCOM), and raised the price target from $78.00 to $80.00.

In the report, Deutsche Bank noted, “Qualcomm (Buy, USD66.93) looks poised to extend lead in 2014. Over the past month we have conducted a number of checks on the major players in the baseband market and have come away more bullish with regards to Qualcomm's LTE share in 2014. We have felt for some time that Qualcomm's biggest threat would come from Mediatek (Buy, HKD360) and Intel (Buy, USD21.90)/Infineon (Hold, E7.08). Our checks on these two indicate that they are further behind than their public comments would suggest. As a result, we feel comfortable raising our 2014 LTE market share estimate for Qualcomm.”

Qualcomm closed on Friday at $66.93.