Jefferies Lifts Price Target On Broadcom (BRCM) to $46

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July 26, 2011 10:02 AM EDT
Get Alerts BRCM Hot Sheet
Price: $54.67 --0%

Rating Summary:
    15 Buy, 29 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 12 | New: 1
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Jefferies raised its price target on Buy-rated Broadcom (NASDAQ: BRCM) from $41 to $46 following results.

The firm comments, "Our sense is that investors are underweight semis, and with momentum indicators turning we think they will feel the need to flip from under- to overweight semis in fairly short order. In this environment we expect BRCM to capture a premium valuation - it is a rare breed of semi-stock that has both a large cap and the ability to post multiple qtrs of upside surprises. BRCM remains a top pick, our price target is $46."

For more ratings news on Broadcom click here and for the rating history of Broadcom click here.

Shares of Broadcom closed at $34.91 yesterday.

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