Morgan Stanley Boosts Avago Technologies Price Target to $82.00 (AVGO)
Stock analysts at Morgan Stanley raised their target price on shares of Avago Technologies (NASDAQ:AVGO) to $82.00 in a report issued on Tuesday. Morgan Stanley’s target price points to a potential upside of 8.80% from the company’s current price.
Avago Technologies (NASDAQ:AVGO) opened at 75.37 on Tuesday. Avago Technologies has a one year low of $36.08 and a one year high of $76.44. The stock’s 50-day moving average is $72.55 and its 200-day moving average is $66.52. The company has a market cap of $18.972 billion and a P/E ratio of 31.45.
Avago Technologies (NASDAQ:AVGO) last announced its earnings results on Thursday, May 29th. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.09. The company had revenue of $901.00 million for the quarter, compared to the consensus estimate of $679.59 million. During the same quarter last year, the company posted $0.61 earnings per share. Avago Technologies’s revenue was up 24.7% compared to the same quarter last year. On average, analysts predict that Avago Technologies will post $3.99 earnings per share for the current fiscal year.
AVGO has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Avago Technologies in a research note on Monday, July 14th. They now have a $90.00 price target on the stock, up previously from $46.00. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Avago Technologies in a research note on Friday, May 30th. They now have a $83.00 price target on the stock, up previously from $65.00. Finally, analysts at Goldman Sachs raised their price target on shares of Avago Technologies to $78.00 in a research note on Friday, May 30th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Avago Technologies presently has a consensus rating of “Buy” and an average target price of $75.39.
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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