Deutsche Bank Reiterates a 'Buy' on Avago Technologies (AVGO); Q3: Weathering the Storm

Deutsche Bank reiterates a 'Buy' on Avago Technologies (NASDAQ: AVGO) price target of $38.00.

Deutsche analyst says, "Avago delivered solid F3Q11 results and guided in-line with expectations as co-specific growth drivers in Wireless offset macro-impacted softness elsewhere. Looking fwd into 2H11/2012, we expect co-specific product cycles in Wireless and Wired Comms to continue driving AVGO’s overall growth above that of its peers, yield improvement in margins, and allow solid cash returns to shareholders (divd+repo)."

For more ratings news on Avago Technologies click here and for the rating history of Avago Technologies click here.

Shares of Avago Technologies closed at $29.26 yesterday.

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