Broadcom Ltd. (AVGO): Another Beat And Raise - Drexel Hamilton
Drexel Hamilton analyst, Cody Acree, reiterated his Buy rating on shares of Broadcom Limited (NASDAQ: AVGO) after the company turned in another solid beat and raise quarter that was led by the Wireless business which grew 34% q/q.
The company is seeing the obvious benefits of Apple’s ramp, Samsung’s relative market share stability even in the face of its Note 7 problems, and generational dollar content increases for both Avago filters and Broadcom connectivity solutions.
The price target goes to $210 from $201.
For an analyst ratings summary and ratings history on Broadcom Limited click here. For more ratings news on Broadcom Limited click here.
Shares of Broadcom Limited closed at $170.71 yesterday.