Broadcom (BRCM) volatility elevated on tight five-month range into Q3

Broadcom (Nasdaq: BRCM) was upgraded to Outperform from Neutral and its price target raised to $46 from $35 at RW Baird. BRCM is expected to release Q3 results on October 25. Overall option implied volatility of 43 is above it six-month average of 39 according to Track Data, suggesting larger price movement.

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