Street Turns Bullish on QUALCOMM

QUALCOMM is the standout in today's analyst activity. The chipmaker scored a consensus upgrade and saw UBS lift its target price sharply to $235 from $170 — a 38% jump in the target alone.

The upgrade pushed QUALCOMM's consensus average target to $213, up from $186.50. The stock carries a market cap of $208 billion. Short interest sits at just 3.7% of free float, suggesting bears are not pressing the other way.

Paychex moved in the opposite direction. UBS analyst Kevin Mcveigh cut his target to $98 from $100, downgrading to Hold. The payroll firm has a $34 billion market cap. The call signals caution on HR software names despite steady earnings.

PepsiCo also drew a bearish note. Citigroup's Filippo Falorni slashed his target to $170 from $182, even while keeping a Buy rating. The consensus average price target dipped slightly to $167.48. PepsiCo trades at a $194 billion market cap.

Darden Restaurants and BNY Mellon both saw modest target price increases, reflecting broader resilience in consumer dining and financial services. Intuit bucked the software trend slightly, with the consensus target edging down to $487.