RBC Capital Upgrades Broadcom (BRCM) to Outperform; Rising Dollar and Unit Trends Ahead
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Price: $34.62 +0.99%
Rating Summary:
36 Buy, 2 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Rating Summary:
36 Buy, 2 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Trade BRCM Now!
RBC Capital upgraded Broadcom (NASDAQ: BRCM) from Sector Perform to Outperform with a price target of $46.00 (from $38.00), despite a broader Semiconductor Sector downgrade.
Analyst Doug Freedman comments, "Product pipeline is ripe with potential content and unit increases ahead, as the rate of OpEx growth is set to decelerate, driving operating margins higher. We believe that BRCM’s ability to drive recurring business and steady design wins stems from customized software. As an example, the company remains well-positioned to hold onto slots at Apple as we expect Apple could grow towards 15% of total revenues in 2012 from 13% in 2011. In addition, we believe BRCM could be in a position to win back market-share from QCOM’s 8960 platform. In 2013-2014, BRCM appears to have integration opportunities ahead outside of upcoming NFC, including power amplifiers and RF content."
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 $36.09 yesterday, with a 52 week range of $27.59-$39.66.
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Analyst Doug Freedman comments, "Product pipeline is ripe with potential content and unit increases ahead, as the rate of OpEx growth is set to decelerate, driving operating margins higher. We believe that BRCM’s ability to drive recurring business and steady design wins stems from customized software. As an example, the company remains well-positioned to hold onto slots at Apple as we expect Apple could grow towards 15% of total revenues in 2012 from 13% in 2011. In addition, we believe BRCM could be in a position to win back market-share from QCOM’s 8960 platform. In 2013-2014, BRCM appears to have integration opportunities ahead outside of upcoming NFC, including power amplifiers and RF content."
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 $36.09 yesterday, with a 52 week range of $27.59-$39.66.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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