Baird Reiterates Outperform on Broadcom Ltd. (AVGO) Following Solid 3Q

September 2, 2016 8:16 AM EDT
Get Alerts AVGO Hot Sheet
Price: $166.13 +1.16%

Rating Summary:
    38 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 28 | Down: 20 | New: 17
Trade AVGO Now!
Join SI Premium – FREE

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

Baird reiterated an Outperform rating and $205.00 price target on Broadcom Limited (NASDAQ: AVGO) following the company's 3Q earnings report. AVGO reported non-GAAP EPS of $2.42, well above the consensus of $2.30. Revenues of $3,802 million was above the midpoint of the guidance range of $3,675-$3,825 million.

Analyst Tristan Gerra commented, "Reiterating our Outperform rating on secular growth drivers including increasing demand for Ethernet switching and routing products along with rising RF content, notably driven by data centers, smartphones, and IoT applications. Cost reduction targets remain on track, with Broadcom targeting 40+% operating margin existing F4Q16."

For an analyst ratings summary and ratings history on Broadcom Limited click here. For more ratings news on Broadcom Limited click here.

Shares of Broadcom Limited closed at $177.09 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View

Related Entities

Robert W Baird, Earnings

Add Your Comment