Nomura Securities Maintains a 'Buy' on Avago Technologies (AVGO) Raising FY12 Estimates

May 23, 2012 8:55 AM EDT Send to a Friend
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Price: $70.54 -2.72%

Rating Summary:
    20 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 38 | New: 6
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Nomura Securities maintains a 'Buy' on Avago Technologies (NASDAQ: AVGO) price target of $40.00.

Analyst, Romit Shah, said, "FQ2 results and guidance were in line with our reduced ests (April 20th) and slightly below consensus. While the recovery in sales is lower than what we were thinking 3 months ago, the iPhone 5 ramp is still in front of us and industrial is snapping back better than we expected. Our CY12 EPS estimate increases from $2.61 to $2.66, and our CY13 estimate is unchanged at $3.00."

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 $31.27 yesterday.




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