Cowen Remains Bullish on Broadcom Ltd. (AVGO) Ahead of 3Q Report
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Cowen reiterated an Outperform rating and $200.00 price target on Broadcom Limited (NASDAQ: AVGO) ahead of the company's 3Q earnings report.
Analyst Timothy Arcuri commented, "While we see this year's iPhone launch quarter as down a bit Y/Y, content gains in the high band RFFE and WiFi modules should bolster Wireless Comms, while Tomahawk and Jericho should meaningfully factor into the Oct guide with some favorable tailwinds from Enterprise Storage as well. We believe estimates here remain way too low and $200 still seems like a base case to us with upside from there."
Shares of Broadcom Limited closed at $177.40 yesterday.
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