Canaccord Genuity Reiterates a 'Buy' on Avago Technologies (AVGO); Strong Wireless Guidance Vs. Softer Trends
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Price: $34.56 --0%
Rating Summary:
15 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 3 | Down: 2 | New: 9
Rating Summary:
15 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 3 | Down: 2 | New: 9
Trade AVGO Now!
Canaccord Genuity reiterates a 'Buy' on Avago Technologies (NASDAQ: AVGO) price target of $43.00 (from $42.00).
Analyst, T. Michael Walkley, said, "Avago reported strong Q3/F2012 results with mixed Q4/F2012 sales guidance, as very strong wireless guidance was offset by softer guidance in the Wired Infrastructure, Industrial, and Consumer divisions. We believe Avago’s proprietary technologies, strong IP portfolio, and diverse customer base in several strong growth markets positions the company for strong long-term earnings growth. In fact, we believe Avago is well positioned for several secular growth drivers including smartphones with increasing LTE content, industrial growth in emerging markets, and increasing global demand for bandwidth."
"...we modestly increase our F2012 pro-forma EPS estimate from $2.65 to $2.73 and F2013 from $2.97 to $3.05."
For an analyst ratings summary and ratings history on Avago Technologies click here. For more ratings news on Avago Technologies click here.
Shares of Avago Technologies closed at $36.91 yesterday, with a 52 week range of $27.26-$39.22.
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Analyst, T. Michael Walkley, said, "Avago reported strong Q3/F2012 results with mixed Q4/F2012 sales guidance, as very strong wireless guidance was offset by softer guidance in the Wired Infrastructure, Industrial, and Consumer divisions. We believe Avago’s proprietary technologies, strong IP portfolio, and diverse customer base in several strong growth markets positions the company for strong long-term earnings growth. In fact, we believe Avago is well positioned for several secular growth drivers including smartphones with increasing LTE content, industrial growth in emerging markets, and increasing global demand for bandwidth."
"...we modestly increase our F2012 pro-forma EPS estimate from $2.65 to $2.73 and F2013 from $2.97 to $3.05."
For an analyst ratings summary and ratings history on Avago Technologies click here. For more ratings news on Avago Technologies click here.
Shares of Avago Technologies closed at $36.91 yesterday, with a 52 week range of $27.26-$39.22.
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