Deutsche Bank Upgrades Broadcom (BRCM) to Buy; Premium Growth at a Reasonable Price

Deutsche Bank upgraded Broadcom (NASDAQ: BRCM) to Buy with a price target of $35.00.

Deutsche analyst says, "We are upgrading BRCM as we believe NT expectations are sufficiently low, concerns on connectivity share loss are overblown, and valuation looks compelling relative to historical ranges and vs. large cap growth peers. We have long viewed BRCM as a core semi holding given its superior growth record and view the recent sell-off as an opportunity to accumulate the stock at a reasonable price with a favorable risk/reward."

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 $30.14 yesterday.

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