Qualcomm "buy"

09/13/07 - UBS

NEW YORK, September 13 (newratings.com) - Analysts at UBS maintain their "buy" rating on Qualcomm Inc (QCOM). The 12-month target price is set to $54.

In a research note published this morning, the analysts mention that an appellate court has granted a stay of the ITC ban that prevented the sale of Qualcomm’s new handsets with infringing chipsets in the US. ITC had earlier ruled that Qualcomm was violating one of BRCM’s patents, the analysts say. The court ruling allows Qualcomm to sell handsets in the US with the so-called infringing chipsets, UBS adds.