Canaccord Genuity Starts Avago Technologies (AVGO) at Buy; Strong IP; Management Executing

Canaccord Genuity initiates coverage on Avago Technologies (NASDAQ: AVGO) with a Buy. PT $42.00.

Analyst, T. Michael Walkley, said, "We believe Avago’s proprietary technologies, strong IP portfolio, and diverse customer base in several strong growth markets position the company for strong long-term earnings growth. Following its LBO in 2005, Avago management has a proven track record for driving successful earnings
growth through its streamlined operations and a focused product portfolio that
leverages its strong IP portfolio. We believe Avago’s management team will
continue to execute and deliver sustained industry-leading profits."

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 $34.49 yesterday.

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