Nomura Securities Conviction Buy List: Adding Broadcom (BRCM) to the U.S. Conviction Buy List

May 29, 2012 9:01 AM EDT
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Price: $54.67 --0%

Rating Summary:
    15 Buy, 30 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 7 | New: 31
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Nomura Securities Conviction Buy List: Adding BRCM to the U.S. Conviction Buy List.

Analyst, Michael Lean, said, "We are adding Broadcom Corp (Nasdaq: BRCM) to our US Conviction Buy List. Despite the recent decline in the stock, we believe that the core business is performing well, and we find valuation attractive at 13x CY13E EPS (including ESO) and a ~25% discount to our broader semiconductor coverage on an EV / sales basis. We have removed Maxim Integrated Products (Buy, $32) from our US Conviction Buy List. Other stocks on our US Conviction Buy List are Disney (NYSE: DIS), Dover (NYSE: DOV), Fifth Third (Nasdaq: FITB), Goldman Sachs (NYSE: GS), Limited (NYSE: LTD), Marriott (NYSE: MAR), News Corp Nasdaq: NWSA), Oracle (Nasdaq: ORCL), PetSmart (Nasdaq: PETM) and Sherwin-Williams (NYSE: SHW)."


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