Jefferies Lifts Price Target On Broadcom (BRCM) to $46
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Price: $28.89 -0.55%
Rating Summary:
20 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
20 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Jefferies raised its price target on Buy-rated Broadcom (NASDAQ: BRCM) from $41 to $46 following results.
The firm comments, "Our sense is that investors are underweight semis, and with momentum indicators turning we think they will feel the need to flip from under- to overweight semis in fairly short order. In this environment we expect BRCM to capture a premium valuation - it is a rare breed of semi-stock that has both a large cap and the ability to post multiple qtrs of upside surprises. BRCM remains a top pick, our price target is $46."
For more ratings news on Broadcom click here and for the rating history of Broadcom click here.
Shares of Broadcom closed at $34.91 yesterday.
The firm comments, "Our sense is that investors are underweight semis, and with momentum indicators turning we think they will feel the need to flip from under- to overweight semis in fairly short order. In this environment we expect BRCM to capture a premium valuation - it is a rare breed of semi-stock that has both a large cap and the ability to post multiple qtrs of upside surprises. BRCM remains a top pick, our price target is $46."
For more ratings news on Broadcom click here and for the rating history of Broadcom click here.
Shares of Broadcom closed at $34.91 yesterday.
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