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Broadcom (BRCM) Estimates, PT Raised to $51 at Jefferies

July 23, 2014 7:27 AM EDT
Get Alerts BRCM Hot Sheet
Price: $54.67 --0%

Rating Summary:
    15 Buy, 29 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Jefferies analyst Mark Lipacis raised estimates and his price target on Buy-rated Broadcom (NASDAQ: BRCM) to $51.00 (from $44.00) following Q2 results.

Lipacis said, "The wind-down of the money losing cellular business has implications for its operating model that we think have yet to manifest in the stock. We expect it to announce a new operating model at its Dec analyst day that features higher margins and capital return that we expect will translate to higher EPS and P/E."

The firm raised FY 2014 EPS from $2.47 to $2.82 and FY 2015 EPS from $2.82 to $3.37.

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

Shares of Broadcom closed at $38.75 yesterday.



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