Wedbush Reiterates an 'Outperform' on Broadcom (BRCM); A Check Mark In The Win Category
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Price: $54.67 --0%
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush reiterates an 'Outperform' on Broadcom (NASDAQ: BRCM) price target of $41.00 (from $40.00).
Analyst, Betsy Van Hees, said, "While worries over the strength of the broader macro and Europe will likely continue to drive sentiment for the entire group, we reiterate our rating on BRCM and increase our PT. BRCM remains one of our top defensive plays in an especially tough market as we believe it is (1) highly levered to seasonal growth of mobile markets with considerable market share (75+%) in connectivity chips, (2) a solid derivative play to Apple (Nasdaq: AAPL), and (3) will benefit from any growth in 2H:12 in wireline/wireless infrastructure build-out with its end to end solutions in 10Gigabit and KBPs."
FY12 EPS estimate raised from $2.74 to $2.86 and FY13 lowered from $2.96 to $2.95.
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 $30.77 yesterday.
Analyst, Betsy Van Hees, said, "While worries over the strength of the broader macro and Europe will likely continue to drive sentiment for the entire group, we reiterate our rating on BRCM and increase our PT. BRCM remains one of our top defensive plays in an especially tough market as we believe it is (1) highly levered to seasonal growth of mobile markets with considerable market share (75+%) in connectivity chips, (2) a solid derivative play to Apple (Nasdaq: AAPL), and (3) will benefit from any growth in 2H:12 in wireline/wireless infrastructure build-out with its end to end solutions in 10Gigabit and KBPs."
FY12 EPS estimate raised from $2.74 to $2.86 and FY13 lowered from $2.96 to $2.95.
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 $30.77 yesterday.
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