Broadcom Limited (AVGO) PT Raised to $260 at Rosenblatt Following Earnings Report
Rosenblatt raised its price target on Broadcom Limited (NASDAQ: AVGO) to $260.00 (from $250.00) while maintaining a Buy rating. Broadcom reported flattish q/q sales of $4.15 billion for the January quarter slightly above $4.07 billion expectations. Non-GAAP EPS of $3.63 was well above consensus of $3.48.
Analyst Hans Mosesmann commented, "We rate AVGO Buy with a new target of $260. Multiple strategic engagements in wireless, wired, and enterprise storage are paying off in terms of both content expansion and ASP growth. We expect the company to continue to be M&A active going forward."