Broadcom Limited (AVGO) PT Raised to $340 at Mizuho Securities

Mizuho Securities analyst Vijay Rakesh raised the price target on Broadcom Limited (NASDAQ: AVGO) to $340.00 (from $330.00) while maintaining a Buy rating.

The analyst commented, "AVGO reported an in-line JulQ with continued strength in Networking, better than expected CA, and seasonal Wireless ramps, and guided to an in-line OctQ. AVGO noted weaker Enterprise with SAN inventory buildup while expecting a seasonal 2H in RF though hard to get too bullish. Looking ahead, AVGO reiterated its F19E $22.5B top-line guide, despite an ~$900M headwind from Huawei ban; and noted overall stability through 2020E despite weaker global macro and U.S.-China trade conflict overhangs."

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