Canaccord Genuity Reiterates a 'Buy' on Broadcom (BRCM); Healthy When Everyone Else Catching Cold
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Price: $37.40 -0.4%
Rating Summary:
35 Buy, 1 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Rating Summary:
35 Buy, 1 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Trade BRCM Now!
Canaccord Genuity reiterates a 'Buy' on Broadcom (NASDAQ: BRCM) price target of $40.00 (from $45.00).
Analyst, Bobby Burleson, said, "We reiterate our rating on shares of BRCM following the company’s above-consensus results and largely in-line guidance. We believe BRCM should continue to perform well against a backdrop of weak end-markets driven by share gains in baseband and a strong product cycle for connectivity. We note that production checks indicate BRCM as one of the few fabless semi companies to increase orders heading into the H2, a signal of confidence and strong orders from customers, in our view."
For an analyst ratings summary and ratings history on Broadcom click here. For more ratings news on Broadcom click here.
Shares of Broadcom closed at $30.77 yesterday, with a 52 week range of $27.59-$39.66.
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Analyst, Bobby Burleson, said, "We reiterate our rating on shares of BRCM following the company’s above-consensus results and largely in-line guidance. We believe BRCM should continue to perform well against a backdrop of weak end-markets driven by share gains in baseband and a strong product cycle for connectivity. We note that production checks indicate BRCM as one of the few fabless semi companies to increase orders heading into the H2, a signal of confidence and strong orders from customers, in our view."
For an analyst ratings summary and ratings history on Broadcom click here. For more ratings news on Broadcom click here.
Shares of Broadcom closed at $30.77 yesterday, with a 52 week range of $27.59-$39.66.
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