Barclays Maintains an 'Overweight' on Avago Technologies (AVGO); Prepped and Ready for iPhone 5

Barclays maintains an 'Overweight' on Avago Technologies (NASDAQ: AVGO) price target of $43.00.

Analyst, Blayne Curtis, said, "Avago reported an April quarter with inline revenue and better EPS. Guidance was soft as expected but management provided strong commentary for the October quarter in terms of revenue and capacity additions (see $25M-$50M upside to prior $200M FY12 capex forecast) supports our view of likely growing content in the upcoming iPhone 5 (Nasdaq: AAPL)."

"Our CY12 estimates move to $2,524M/$2.77 (from $2,523M/$2.69) and CY13 to $2,765M/$3.03 (from $2,796M/$3.01)."

For an analyst ratings summary and ratings history on Avago Technologies click here. For more ratings news on Avago Technologies click here.

Shares of Avago Technologies closed at $31.27 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Emkay Global Starts Urban Company (URBANCO:IN) at Buy (1)
• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Deere (DE) PT Lowered to $728 at UBS as Agricultural Machinery Cycle Gets Closer