Broadcom (BRCM) May Lift Guidance as Analyst Day Approaches

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Ahead of Thursday's analyst day, Canaccord Genuity maintained a Buy rating on Broadcom (NASDAQ: BRCM) with a price target of $40.00.

Analyst Bobby Burleson said "upstream supply chain checks show positive momentum for BRCM's suppliers and indicate potential upside to guidance".

"Specifically, we believe BRCM has increased orders to suppliers by over 5% for the remainder of Q4 and through Q1 versus our prior month's checks, driven by strong holiday season demand for consumer-centric devices," said Burleson.

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 $32.17 yesterday, with a 52 week range of $27.59-$39.66.

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