Steve Mollenkopf, CEO of Qualcomm.
Adam Jeffery | CNBC
Here are the biggest calls on Wall Street on Friday:
Mizuho upgraded Qualcomm to ‘buy’ from ‘neutral’
Mizuho said the semiconductor and telecommunications equipment company was positioned well on 5G going in to 2020 and beyond.
“We have been positive on QCOM‘s 5G outlook in 2020 while waiting for an attractive opportunity, given N-T headwinds with weak 4G handsets. With much of the 4G handset risk in the rear view mirror, we are upgrading QCOM to Buy ahead of the 5G ramp.”
J.P. Morgan named Lyft as a ‘top pick’
J.P. Morgan added Lyft as a top pick and said it liked significantly improved revenue and earnings as well as increased market share in the ride-hailing business.
“LYFT reported significantly better than expected revenue and EBITDA, as it continues to take share of an increasingly rational US rideshare market, thereby accelerating its path to profitability. … LYFT also reiterated its expectation for consolidated EBITDA profit by 4Q21, though we continue to believe core rideshare can be profitable well before that, likely sometime in 2020. PTON also emphasized EBITDA profitability in its core US bike business. We continue to believe that the Street is not giving these companies enough credit.”