DA Davidson Upgrades Broadcom (BRCM) to Buy; Despite Some Near-Term Uncertainty, Company is Well Positioned
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Price: $54.67 --0%
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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DA Davidson upgraded Broadcom (NASDAQ: BRCM) to Buy. PT increased from $45 to $50. (5-Yr/Long-Term PT is $65)
DA analyst says, "We believe Broadcom shares have been hit with concerns regarding potential supply chain disruptions due to the Japanese disaster. While it is possible that Q2 results may be impacted due to the downstream nature of the supply chain, we believe Broadcom is well positioned in 2011 with several segments poised for growth. In particular, we see further design win momentum for all three of Broadcom’s segments."
"In the past we have criticized the lack of operating margin leverage and lack of meaningful growth drivers outside of combo chips. However, given the recent pullback, strategic acquisitions, new product announcements, and ability to throttle back expenses, we believe shares have become attractive."
For more ratings news on Broadcom click here and for the rating history of Broadcom click here.
Shares of Broadcom closed at $38.45 yesterday.
DA analyst says, "We believe Broadcom shares have been hit with concerns regarding potential supply chain disruptions due to the Japanese disaster. While it is possible that Q2 results may be impacted due to the downstream nature of the supply chain, we believe Broadcom is well positioned in 2011 with several segments poised for growth. In particular, we see further design win momentum for all three of Broadcom’s segments."
"In the past we have criticized the lack of operating margin leverage and lack of meaningful growth drivers outside of combo chips. However, given the recent pullback, strategic acquisitions, new product announcements, and ability to throttle back expenses, we believe shares have become attractive."
For more ratings news on Broadcom click here and for the rating history of Broadcom click here.
Shares of Broadcom closed at $38.45 yesterday.
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