Broadcom's (AVGO) Price Target Raised to $200 at Pacific Crest
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Pacific Crest maintained an Overweight rating on Broadcom Limited (NASDAQ: AVGO) and raised its price target of $200.00 (from $180.00). The price target increase follows the release of Q3 results.
Analyst John Vinh commented on the company's performance, saying, "While AVGO posted strong results and guidance, supply constraints in set-top boxes and the lack of more-meaningful upside in wireless fell short of high expectations. Despite the mismatch in expectations, we are raising our price target to $200 on higher estimates and remain buyers of the stock. AVGO remains one of the best secular stories in semiconductors with secular content growth and margin expansion."
Shares of Broadcom Limited closed at $177.09 yesterday.
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Related EntitiesPacific Crest Securities
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