Canaccord Genuity Reiterates a 'Buy' on Broadcom (BRCM); Valuation Is Still Compelling
Tweet
Share
E-mailGet Alerts BRCM Hot Sheet
Price: $54.67 --0%
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 6 | New: 57
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 6 | New: 57
Join SI Premium – FREE
Canaccord Genuity reiterates a 'Buy' on Broadcom (NASDAQ: BRCM) price target of $45.00.
Analyst, Bobby Burleson, said, "We reiterate our rating on BRCM following last night’s upside results and largely in-line guidance. In our view, investors should own BRCM ahead of a strengthening ramp for Mobile & Wireless in the H2 as headwinds from 2G ease and customers introduce new products (iPhone5, additional entry-level smartphones using platform solution). Valuation is compelling (despite depleted cash) at 11x our upwardly revised 2013 EPS estimate of $3.22.
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 $36.71 yesterday.
Analyst, Bobby Burleson, said, "We reiterate our rating on BRCM following last night’s upside results and largely in-line guidance. In our view, investors should own BRCM ahead of a strengthening ramp for Mobile & Wireless in the H2 as headwinds from 2G ease and customers introduce new products (iPhone5, additional entry-level smartphones using platform solution). Valuation is compelling (despite depleted cash) at 11x our upwardly revised 2013 EPS estimate of $3.22.
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 $36.71 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades argenx SE (ARGX:BB) (ARGX) to Hold
- MetLife (MET) PT Raised to $106 at Evercore ISI
- Vivmark Residential (VMRK) PT Lowered to $74 at BMO Capital
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
