Avago Technologies (AVGO) is Unique Story, Thinks Analyst

Deutsche Bank today maintained a Buy rating on Avago Technologies (NASDAQ: AVGO) with a price target of $45.00. Analyst Ross Seymore noted the company's technology is increasing required in LTE phones, making it a unique stock that is well positioned in wireless.

"We continue to believe NT order/build volatility masks the more important point that AVGO's FBAR technology is increasingly required as the market moves to LTE phones. This technology-driven content story is increasingly unique and important (at both high and low ends of mkt) in an otherwise slowing/commoditizing handset market. We expect this trend to continue driving filter mkt share gains for AVGO/FBAR from the 15% level today to potentially 30% within 3-5 years, while simultaneously diversifying its customer base," said Seymore.

For an analyst ratings summary and ratings history on Avago Technologies (NASDAQ: AVGO) click here. For more ratings news on Avago Technologies click here.

Shares of Avago Technologies closed at $36.29 yesterday.

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