Loading...
Loading...
In a report published Friday, Morgan Stanley analyst Craig Hettenbach reiterated an Overweight rating on
Avago Technologies Ltd.AVGO, and raised the price target from $82.00 to $97.00.
In the report, Morgan Stanley noted, “We remain Overweight AVGO as the company's above-average growth, strong FCF, diversified revenue stream (after LSI), and consistently high profitability is not reflected in the current multiple (P/E of 13x pro-forma 2015 EPS for the combined company). We have high conviction in management's ability to execute on driving LSI's OMs from 17% to 30% over the next few years. Notably, Avago doubled its OMs from 15% to 30% post the company's LBO and is very effective at maximizing pricing for its IP, which we think will benefit the LSI business.”
Avago Technologies Ltd. closed on Thursday at $76.36.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in