Gleacher & Co. Maintains a 'Buy' on Broadcom (BRCM); Valuations too Cheap to Ignore ahead of Accelerating 2H Demand
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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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Gleacher & Co. maintains a 'Buy' on Broadcom (NASDAQ: BRCM) price target of $44.00.
Gleacher analyst says, "For the June quarter, we currently expect $1.81bil and $0.62 (pro forma) vs. the Street at $1.81bil and $0.63. To a large extent, we believe some ongoing burn in the smartphone segment could be offset by strong sales of AAPL's iPad/iPhone (where upside from Apple (Nasdaq: AAPL) is roughly $38mil by our estimates). For the September quarter, we currently expect $1.95bil and $0.73 vs. the Street at $1.94bil and $0.71. We like comments out of Nokia that stability has improved since the last weeks in Q2 and believe this could become more transparent in Q3, and similarly for the Mobile & Wireless division as inventories in the channel are likely not adequate for end-market demand."
For more ratings news on Broadcom click here and for the rating history of Broadcom click here.
Shares of Broadcom closed at $35.47 yesterday.
Gleacher analyst says, "For the June quarter, we currently expect $1.81bil and $0.62 (pro forma) vs. the Street at $1.81bil and $0.63. To a large extent, we believe some ongoing burn in the smartphone segment could be offset by strong sales of AAPL's iPad/iPhone (where upside from Apple (Nasdaq: AAPL) is roughly $38mil by our estimates). For the September quarter, we currently expect $1.95bil and $0.73 vs. the Street at $1.94bil and $0.71. We like comments out of Nokia that stability has improved since the last weeks in Q2 and believe this could become more transparent in Q3, and similarly for the Mobile & Wireless division as inventories in the channel are likely not adequate for end-market demand."
For more ratings news on Broadcom click here and for the rating history of Broadcom click here.
Shares of Broadcom closed at $35.47 yesterday.
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