Market Overview

UPDATE: Jefferies Reiterates on Broadcom Corporation Following Solid 3Q EPS Beat, Weaker 4Q Outlook

Share:
Related BRCM
11 Buyout Targets Credit Suisse Is Watching
Motif: Apple Tops In Wearables Market Opportunity
Broadcom: A Tech Stock Worth Buying For Long Term (GuruFocus)

In a report published Wednesday, Jefferies analyst Mark Lipacis reiterated a Buy rating on Broadcom Corporation (NASDAQ: BRCM), but lowered the price target from $34.00 to $32.00.

In the report, Jefferies noted, “3Q EPS beat consensus by $0.07 due to better gross margins, higher revs and lower shares, but the outlook for 4Q revs missed the Street by 7%, which the company attributed to wireless inventories, 3G competition and weaker Broadband. We think sentiment improves with LTE, 5G WiFi and data center product ramps in early 2014. We'd use weakness as a particular buying opportunity.”

Broadcom Corporation closed on Tuesday at $27.14.

Latest Ratings for BRCM

DateFirmActionFromTo
Apr 2015Deutsche BankMaintainsBuy
Apr 2015JefferiesMaintainsBuy
Apr 2015BarclaysMaintainsEqual-weight

View More Analyst Ratings for BRCM
View the Latest Analyst Ratings

Posted-In: Jefferies Mark LipacisAnalyst Color Price Target Analyst Ratings

 

Related Articles (BRCM)

Around the Web, We're Loving...