George Rose | Getty Images
People crowd into the Qualcomm booth to view a series of new products during the annual Consumer Electronics Show on Jan. 4, 2017 in Las Vegas.
Analysts at Stifel, J.P. Morgan and Evercore ISI all upgraded Qualcomm on Tuesday’s news. Mizuho Securities, meanwhile, hiked its price target on Qualcomm to $82 per share from $62, implying a 16.3% upside from Tuesday’s close. Canaccord Genuity also raised its price target to $89 per share from $75 and reiterated its buy rating on the company.