Broadcom (BRCM) Remains Top Pick for Deutsche Bank Following Investor Meeting

Deutsche Bank maintains a Buy rating and $55.00 price target on Broadcom (NASDAQ: BRCM). Yesterday Deutsche Bank hosted an investor meeting with BRCM's CEO, Scott McGregor. BRCM remains a top pick in the eyes of analyst Ross Seymore.

Seymore commented on BRCM, saying, "In a slowing semiconductor sector that trades at elevated valuations, we believe investor selectivity remains paramount and see self-help stories as offering the greatest upside potential. We believe BRCM perfectly fits this strategy as the co’s increased focus on differentiated/profitable growth and higher cash returns to shareholders should yield upside to both Street EPS ests and valuation (currently ~30% discount to high-quality peers). Consequently, we reiterate our Buy rating and $55 P/T."

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 $47.18 yesterday.

You May Also Be Interested In

• Deutsche Bank Upgrades Target Hospitality (TH) to Buy
• Unicycive Therapeutics (UNCY) PT Raised to $15 at Benchmark Following Q2 Results
• Rubrik Inc (RBRK) PT Raised to $120 at Cantor Fitzgerald Into Q2 Earnings