Market Overview

UPDATE: Piper Jaffray Initiates Broadcom Corporation at Overweight on Investment Payout

Related BRCM
Broadcom Corporation Beats Q3 2014 Earnings Estimates
Markets In Rally Mode: S&P 500 And Nasdaq Surge As Dow Lags
Why Synaptics Shorters May be Making a HUGE Mistake (Fox Business)

Piper Jaffray initiated coverage on Broadcom Corporation (NASDAQ: BRCM) with an Overweight rating and a $50.00 price target.

Piper Jaffray said, "We believe Broadcom is particularly well positioned ahead of a number of strong product cycles that will drive communication semiconductor demand. In addition, the company is poised to grow its market share in mobile with its new LTE and other platforms that will likely drive content higher. We believe Apple will be a lead customer for the recently announced LTE baseband, though revenue would be a 2014 event. We think BRCM's large R&D investments of the past few years, market leadership in a wide range of communication markets and increasing content per unit is going to start to drive top line growth and financial leverage."

Broadcom Corporation closed at $34.34 on Thursday.

Latest Ratings for BRCM

DateFirmActionFromTo
Oct 2014Canaccord GenuityMaintainsBuy
Oct 2014OppenheimerMaintainsOutperform
Oct 2014FBR CapitalMaintainsOutperform

View More Analyst Ratings for BRCM
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Initiation Analyst Ratings

 

Related Articles (BRCM)

Around the Web, We're Loving...

Get Benzinga's Newsletters