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Barclays Maintains an 'Overweight' on Avago Technologies (AVGO); Guidance Soft, But iPhone 5 Story on Track

August 17, 2012 3:35 PM EDT Send to a Friend
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Price: $69.38 -1.6%

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    20 Buy, 6 Hold, 0 Sell

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    Up: 26 | Down: 32 | New: 6
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Barclays maintains an 'Overweight' on Avago Technologies (NASDAQ: AVGO) price target of $43.00.

Analyst, Blayne Curtis, said, "Avago reported slightly better July results. October guidance was a little light due to softness in Industrial and Wired, but the Wireless commentary was very strong. October Wireless guidance of +20-30% Q/Q was a little better than our expectations, driven by higher units and content, which we estimate is roughly $3.00 (from $2 in Apple's (Nasdaq: AAPL) IP4S)."

FY12 EPS estimate raised slightly from $2.52 to $2.55, FY13 lowered from $2.82 to $2.71. FY12 revenues from $2.47B to $2.421B and FY13 from $2.69B to $2.554B.

For an analyst ratings summary and ratings history on Avago Technologies click here. For more ratings news on Avago Technologies click here.

Shares of Avago Technologies closed at $36.91 yesterday.




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