Avago Technologies Price Target Raised to $82.00 at Oppenheimer (AVGO)
Equities research analysts at Oppenheimer lifted their price objective on shares of Avago Technologies (NASDAQ:AVGO) to $82.00 in a research note issued to investors on Wednesday. Oppenheimer’s target price would suggest a potential upside of 15.61% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at MKM Partners raised their price target on shares of Avago Technologies from $69.00 to $74.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Avago Technologies from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 15th. They now have a $72.30 price target on the stock. Finally, analysts at Deutsche Bank initiated coverage on shares of Avago Technologies in a research note on Wednesday, May 14th. They set a “buy” rating and a $80.00 price target on the stock. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $67.57.
Shares of Avago Technologies (NASDAQ:AVGO) opened at 70.93 on Wednesday. Avago Technologies has a one year low of $34.15 and a one year high of $71.28. The stock’s 50-day moving average is $64.72 and its 200-day moving average is $57.36. The company has a market cap of $17.720 billion and a P/E ratio of 31.96. Avago Technologies also saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 6,818,510 shares, an increase of 147.1% from the April 30th total of 2,759,952 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average daily volume of 8,536,799 shares, the days-to-cover ratio is presently 0.8 days.
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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