Broadcom Upgrade (BRCM)

Broadcom Corp (NASDAQ: BRCM) was upgraded at Broadpoint.AmTech today to Buy and the price target was raised from $33 to $36. The analysts said in their report that they view BRCM "as a broad play on an Enterprise/Consumer/PC recovery with secular growth opportunities from handset basebands and combo chips."

Shares of Broadcom (BRCM) have lost 0.50% today and are currently trading at $27.77 on the Nasdaq exchange. The stock has taken a 14% haircut in the last month, so if the market stabilizes in the coming weeks, there may be a compelling entry point presented in this stock from a valuation perspective.