Kaufman Bros. Upgrades Avago Technologies (AVGO) to Buy; Beat and Raise - Poised for Rev/EPS Growth into 2012

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Kaufman Bros. upgraded Avago Technologies (NASDAQ: AVGO) from Hold to Buy. PT increased from $34 to $40.

Kaufman analyst says, "We believe AVGO is positioned for revenue and EPS growth Q/Q into 2012 driven by Wireless and Wired revenue strength...AVGO traded at $32.40 after hours, or 11.0x our non-GAAP EPS estimate of $3.01 CY12E (Jan-13 Y/E); our new PT is based on 13.0x our Jan-13 Y/E estimate."

For more ratings news on Avago Technologies click here and for the rating history of Avago Technologies click here.

Shares of Avago Technologies closed at $31.71 yesterday, with a 52 week range of $18.41-$36.18.

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