Avago Technologies PT Raised to $65.00 (AVGO)
Equities research analysts at MKM Partners hoisted their price target on shares of Avago Technologies (NASDAQ:AVGO) from $53.00 to $65.00 in a research note issued to investors on Thursday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. MKM Partners’ target price would suggest a potential upside of 17.60% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Avago Technologies in a research note to investors on Tuesday. They now have a $68.00 price target on the stock, up previously from $51.00. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Avago Technologies in a research note to investors on Tuesday, December 17th. Finally, analysts at UBS AG raised their price target on shares of Avago Technologies from $44.00 to $60.00 in a research note to investors on Tuesday, December 17th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Avago Technologies presently has an average rating of “Buy” and an average target price of $55.19.
Avago Technologies (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.89 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.82 by $0.07. The company had revenue of $733.90 million for the quarter, compared to the consensus estimate of $731.24 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis.
Avago Technologies Limited (NASDAQ:AVGO) is a designer, developer and global supplier of a range of analog semiconductor devices with a focus on III-V based products.
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