Williams Financial Group Reiterates a 'Buy' on Broadcom (BRCM); Let's Flex
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Price: $54.67 --0%
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 18
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 18
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Williams Financial Group reiterates a 'Buy' on Broadcom (NASDAQ: BRCM) price target of $44.00.
Cody A. Acree, said, "During an earnings season where many of the leading chip companies are struggling with guidance, being impacted by a stagnant U.S. economy, slowing Asia, and continual European problems, Broadcom delivered solid June quarter results and provided a September outlook that will likely please most investors. It’s not that the company somehow completely avoided macro constraints but rather that it is leading and likely taking share in a large cross section of end-markets at the upper end of technology growth rates. With many companies providing much more conservative September quarter outlooks, we believe investors will likely move increasingly to BRCM. We believe this scenario will likely be even further exaggerated given Apple’s (Nasdaq: AAPL) relatively soft results."
Williams Tweaks FY12/13 estimates lower.
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.
Cody A. Acree, said, "During an earnings season where many of the leading chip companies are struggling with guidance, being impacted by a stagnant U.S. economy, slowing Asia, and continual European problems, Broadcom delivered solid June quarter results and provided a September outlook that will likely please most investors. It’s not that the company somehow completely avoided macro constraints but rather that it is leading and likely taking share in a large cross section of end-markets at the upper end of technology growth rates. With many companies providing much more conservative September quarter outlooks, we believe investors will likely move increasingly to BRCM. We believe this scenario will likely be even further exaggerated given Apple’s (Nasdaq: AAPL) relatively soft results."
Williams Tweaks FY12/13 estimates lower.
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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