Broadcom (AVGO): Brocade Boosts Potential Upside to $250/sh - RBC
Get Alerts AVGO Hot Sheet
Rating Summary:
42 Buy, 4 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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RBC Capital analyst, Amit Daryanani, reiterated his Top Pick rating on Broadcom Limited (NASDAQ: AVGO) and raised his long term earnings potential to $17 after the company announced the Brocade (NASDAQ: BRCD) acquisition.
The analyst stated "Our analysis suggests the underlying EPS power of AVGO increases materially post BRCD (especially assuming they raise $1.5-2.0B from networking & real estate sales). We think AVGO could achieve >$17.00 of EPS by FY19 (prior $16) and the stock should work in an upside scenario to $250+"Broadcom Ltd. (NASDAQ: AVGO)
Although the earnings power increases, there is no change to the official price target of $200.
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 $179.11 yesterday.
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