Topeka Capital Starts Avago Technologies (AVGO) at Buy

January 9, 2013 12:44 PM EST
Get Alerts AVGO Hot Sheet
Price: $191.08 +2.97%

Rating Summary:
    38 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Earlier, Topeka Capital initiated coverage on Avago Technologies (NASDAQ: AVGO) with a Buy. PT $40.00.

The firm comments, "We believe that Avago will continue to benefit from its leadership in the BAW filter market as we see band proliferation in smartphones driven by LTE. While the Company continues to benefit from its relationship with Apple (AAPL-$525.31: Buy), , we believe the contribution from Samsung should improve as well going forward driven primarily by BAW filters. Furthermore, we expect to see stabilization in Avago's analog business, which has been a source of weakness thus far due to soft industrial and communications markets."

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 $32.10 yesterday.

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