Barclays reiterates an 'Overweight' on Broadcom (BRCM); Analyst Day Offers Inflection Supporting Reversion to Mean Thesis

Barclays reiterates an 'Overweight' on Broadcom (NASDAQ: BRCM) price target cut from $43 to $38.

Barclays analyst says, "While Broadcom may not offer the same growth prospects once expected by investors in years past, the company offered a roadmap that we believe supports credible growth in both cellular and infrastructure that should assuage some concerns coming into the Analyst Day. We stand by our reversion to mean call here, and reiterate our...Our CY11 revenue and EPS move to $7.34B/$2.85 from $7.32B/$2.86 prior and our CY12 estimates move to $7.84B/$2.85 and $7.63B/$2.90."

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 $28.45 yesterday.

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