JPMorgan raised its Qualcomm (QCOM) price target to $265 from $160 on June 5, 2026. The bank maintained its Neutral rating on the stock.
Analysts placed the company on a Positive Catalyst Watch ahead of its June 24 investor day. The firm expects Qualcomm to set ambitious revenue goals for the data center market.
JPMorgan projects data center revenue could exceed $3 billion by fiscal year 2027. The bank suggests upcoming announcements may surpass current investor expectations.