Broadcom (AVGO) PT Raised to $200 at Nomura

September 15, 2016 7:00 AM EDT
Get Alerts AVGO Hot Sheet
Price: $185.56 +0.29%

Rating Summary:
    38 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
Trade AVGO Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

Nomura Securities analyst Romit Shah reiterated a Buy rating and boosted estimates and his price target on Broadcom Limited (NASDAQ: AVGO) to $200.00 (from $180.00).

Shah commented, "The price action in Broadcom since reporting FQ3 earnings on Sept 1st stands out as an anomaly. AVGO closed down post print; the first time in more than two years. The stock is currently down 4% since reporting, versus the SOX and S&P 500, which are down 3% and 2%, respectively. Most investors we 've spoken to believe that results were strong, expectations just got out of hand. We don't disagree that expectations were high going into earnings. But after digging deeper into FQ3 results, we believe earnings were not as strong as investors perceive."

The firm raised FY16E EPS from $9.82 to $10.37; FY17E EPS from$11.93 to $12.13.

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 $169.61 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Standard & Poor's, Nomura, Earnings

Add Your Comment