Mizuho Securities Reiterates Buy on Broadcom Ltd. (AVGO) Ahead of 3Q Report
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Mizuho Securities maintained a Buy rating and $190.00 price target on Broadcom Limited (NASDAQ: AVGO) ahead of the company's 3Q earnings report. Mizuho is expecting revenues and EPS of $3.8B/$2.76, compared to the consensus of $3.8B/$2.77, with a GM of 60.0% vs. consensus of 60.0%.
Analyst Vijay Rakesh commented, "AVGO is scheduled to report its JulQ on Sep 1 after the close. We continue to expect a strong 2H with wireless RF content gains in the iPhone 7 with 8" FBAR and new content gains, while the addition of BRCM continues to add significant revenue in the wireless and wired infrastructure segment (its largest segment at ~58% of revenue). We believe the 2H should see continued execution in wired/ wireless and storage, as well as continued synergies from the BRCM acquisition. Reiterating our Buy and $190 PT."
Shares of Broadcom Limited closed at $177.16 yesterday.
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