Jefferies Reiterates a 'Buy' on Broadcom (BRCM); Upside Surprise
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Price: $37.40 --0%
Rating Summary:
35 Buy, 1 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 21 | New: 17
Rating Summary:
35 Buy, 1 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 21 | New: 17
Trade BRCM Now!
Jefferies reiterates a 'Buy' on Broadcom (NASDAQ: BRCM) price target of $42.00.
Analyst, Mark Lipacis, said, "BRCM remains a top pick after posting a $0.07 EPS beat driven by better revenues. We view BRCM as a core play on secular trends in mobile and comm/broadband infrastructure. Near term, we think it has solid visibility due to Wi-Fi product cycles in mobile devices, and set top boxes in emerging markets. We also believe the Street is underestimating BRCM gross."
Raises current quarter EPS estimate from $0.73 to $0.75, FY12 from $2.83 to $2.89, and FY13 from $2.90 to $2.93.
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, Mark Lipacis, said, "BRCM remains a top pick after posting a $0.07 EPS beat driven by better revenues. We view BRCM as a core play on secular trends in mobile and comm/broadband infrastructure. Near term, we think it has solid visibility due to Wi-Fi product cycles in mobile devices, and set top boxes in emerging markets. We also believe the Street is underestimating BRCM gross."
Raises current quarter EPS estimate from $0.73 to $0.75, FY12 from $2.83 to $2.89, and FY13 from $2.90 to $2.93.
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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