Cantor Fitzgerald Starts Broadcom (BRCM) at Buy; Everything Goes Through Me First

Cantor Fitzgerald initiates coverage on Broadcom (NASDAQ: BRCM) with a Buy. PT $40.00.

Analyst, Dale R. Pfau, said, "Broadcom estimates that 99.98% of all internet traffic
crosses at least one Broadcom chip, in the home, across the network, or in a mobile device. With its broad exposure to communications markets, Broadcom has a number of significant growth drivers, but also suffers from cyclicality in some markets."

Pfau is bullish on long-term trends, but Q3'12 and FY12 estimates are below consensus ($0.75 & $2.85). However, his FY13/14 EPS estimates are above consensus.

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 $32.89 yesterday.

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