Broadcom Ltd. (AVGO): Don't Sweat The Samsung Note 7 Recall - RBC

October 17, 2016 6:28 AM EDT
Get Alerts AVGO Hot Sheet
Price: $191.08 +2.97%

Rating Summary:
    38 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade AVGO Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

RBC Capital analyst, Amit Daryanani, reiterated his Outperform rating on shares of Broadcom Limited (NASDAQ: AVGO) despite Samsung being a large customer and the Note 7 recall is creating fear within the investing community.

The analyst believes that the revenue/EPS impact to the model should be negligible near-term. The long-term the picture is more unclear but from a stock perspective, the analyst thinks AVGO stock should inflect higher due to: sustained wireless tailwinds (FBAR content), wired stability with potential for acceleration in CY17, FCF uptick as the model stabilizes post BRCM and enhanced dividend payments.

No change to the price target of $190.

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 $170.09 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments

Related Entities

RBC Capital

Add Your Comment