Avago Technologies Price Target Raised to $60.00 at Jefferies Group (AVGO)
Research analysts at Jefferies Group upped their price objective on shares of Avago Technologies (NASDAQ:AVGO) to $60.00 in a report released on Wednesday, AR Network reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price target indicates a potential upside of 1.69% from the stock’s previous close.
Shares of Avago Technologies (NASDAQ:AVGO) traded up 4.87% during mid-day trading on Wednesday, hitting $61.875. The stock had a trading volume of 3,097,321 shares. Avago Technologies has a 1-year low of $30.57 and a 1-year high of $60.00. The stock’s 50-day moving average is $55.94 and its 200-day moving average is $46.83. The company has a market cap of $15.401 billion and a price-to-earnings ratio of 26.94.
Avago Technologies (NASDAQ:AVGO) last released its earnings data on Tuesday, February 25th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $709.00 million for the quarter, compared to the consensus estimate of $705.29 million. Analysts expect that Avago Technologies will post $3.30 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on AVGO. Analysts at RBC Capital raised their price target on shares of Avago Technologies from $64.00 to $66.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Raymond James initiated coverage on shares of Avago Technologies in a research note on Tuesday. They set an “outperform” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Avago Technologies from $60.00 to $70.00 in a research note on Thursday, February 20th. They now have an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $57.30.
Avago Technologies Limited 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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