Canaccord Genuity Downgrades Broadcom To Hold

Analysts at Canaccord Genuity downgraded Broadcom Corp. BRCM from Buy to Hold. The price target for Broadcom has been lowered from $50 to $47. Broadcom shares have jumped 49.37% over the past 52 weeks, while the S&P 500 index has gained 12.21% in the same period. Broadcom shares fell 1.41% to $44.09 in pre-market trading.