NEW YORK-Wall Street seemed pleased with the performance of the wireless sector, giving thumbs up to both Motorola Inc. and Qualcomm Inc.
Motorola enjoyed two upgrades on prospects for a strong fourth quarter. Piper Jaffray raised its earnings estimates for the company, and Caris & Company upgraded the company’s shares from average to above average. According to reports, Piper Jaffray said Motorola is enjoying strong sales of its V265 with Cingular Wireless and its V710 with Verizon Wireless.
As for Qualcomm, Standard & Poor’s Equity Research raised its target price for Qualcomm from $50 to $53, according to reports. The firm said Qualcomm has “unique pricing power” in the telecommunications sector.
