Broadcom (BRCM) Still a Buy, Says Analyst
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Price: $36.76 +0.16%
Rating Summary:
35 Buy, 1 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
35 Buy, 1 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Trade BRCM Now!
Yesterday Broadcom Corp (NASDAQ: BRCM) reported Q4 EPS of $0.76, $0.03 better than the analyst estimate of $0.73. Broadcom also reported light guidance.
"There don't seem to be any specific smoking guns – management was clear that anticipated mobile weakness was broad-based, while macro headwinds still dominate infrastructure and broadband," said analyst Daniel Berenbaum.
Berenbaum expects Broadcom to outgrow the industry and he says it will benefit more than others from a snapback. With the stock trading at a discount to names like Analog Devices (Nasdaq: ADI) / Linear Technology Corporation (Nasdaq: LLTC), the analyst says the risk/reward is skewed to the upside.
MKM Partners has a Buy rating on Broadcom with a price target of $43.00.
For an analyst ratings summary and ratings history on Broadcom (NASDAQ: BRCM) click here. For more ratings news on Broadcom click here.
Shares of Broadcom closed at $33.71 yesterday, with a 52 week range of $28.60-$39.66.
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"There don't seem to be any specific smoking guns – management was clear that anticipated mobile weakness was broad-based, while macro headwinds still dominate infrastructure and broadband," said analyst Daniel Berenbaum.
Berenbaum expects Broadcom to outgrow the industry and he says it will benefit more than others from a snapback. With the stock trading at a discount to names like Analog Devices (Nasdaq: ADI) / Linear Technology Corporation (Nasdaq: LLTC), the analyst says the risk/reward is skewed to the upside.
MKM Partners has a Buy rating on Broadcom with a price target of $43.00.
For an analyst ratings summary and ratings history on Broadcom (NASDAQ: BRCM) click here. For more ratings news on Broadcom click here.
Shares of Broadcom closed at $33.71 yesterday, with a 52 week range of $28.60-$39.66.
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