Lazard Capital Maintains Buy on Broadcom

Lazard Capital is out with its report today on Broadcom

, maintaining Buy. In its report, Lazard Capital writes, "Our PT of $48 is 17x FY2011E PF EPS, a multiple that reflects BRCM's historical average. We believe that the current multiple remains attractive considering the risk-reward in owning a high-quality name like BRCM." At the time of posting, shares of BRCM were trading at $34.32, up 0.12% from Monday's close.