Market Overview

UPDATE: Credit Suisse Reiterates On Avago Technologies Following Beat And Raise

Share:
Related AVGO
Oppenheimer: 4 Tech Stocks That Are Technical Buys
1 Wall Street Analyst Is Watching 5 Tech Stocks Post-Mobile World Congress
Defensive Sectors Lead Hesitant Market, But Traders Honor Long-Standing Bullish Support (Seeking Alpha)

In a report published Friday, Credit Suisse analyst John W. Pitzer reiterated an Outperform rating on Avago Technologies Ltd. (NASDAQ: AVGO), and raised the price target from $75.00 to $105.00.

In the report, Credit Suisse noted, “Avago is an established supplier of analog-rich semiconductor products, many of them incorporating proprietary technologies, and serves a diverse set of end markets, often as a sole supplier. Since its LBO in 2005, the company has rationalized its product portfolio through divestitures and streamlined its operations by outsourcing back-end and bulk CMOS front-end processing, retaining front-end processing fabs for specialty materials and proprietary technologies. Avago's leverage to structural growth drivers including content increases in the Industrials/autos end-mkts and accelerating demand for bandwidth, as well as, product cycles (4G/LTE wireless ramps at Apple and China) should allow the company to outperform peers. The additional revenue streams and end market diversification from the LSI acquisition should add further stability to the combined company.”

Avago Technologies Ltd. closed on Thursday at $76.36.

Latest Ratings for AVGO

DateFirmActionFromTo
Mar 2015CitigroupMaintainsBuy
Mar 2015CitigroupMaintainsBuy
Mar 2015DA DavidsonUpgradesNeutralBuy

View More Analyst Ratings for AVGO
View the Latest Analyst Ratings

Posted-In: Credit Suisse John W. PitzerAnalyst Color Price Target Analyst Ratings

 

Related Articles (AVGO)

Around the Web, We're Loving...