Canaccord Genuity Increases Avago Technologies Price Target to $95.00 (AVGO)
Stock analysts at Canaccord Genuity lifted their price target on shares of Avago Technologies (NASDAQ:AVGO) from $83.00 to $95.00 in a report issued on Friday. Canaccord Genuity’s price objective would indicate a potential upside of 24.41% from the stock’s previous close.
Shares of Avago Technologies (NASDAQ:AVGO) traded up 8.64% on Friday, hitting $82.96. The stock had a trading volume of 2,526,294 shares. Avago Technologies has a 1-year low of $38.04 and a 1-year high of $77.21. The stock has a 50-day moving average of $73.06 and a 200-day moving average of $67.58. The company has a market cap of $20.882 billion and a price-to-earnings ratio of 32.11.
Avago Technologies (NASDAQ:AVGO) last released its earnings data on Thursday, August 28th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.21. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 99.8% on a year-over-year basis. On average, analysts predict that Avago Technologies will post $4.01 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at MKM Partners raised their price target on shares of Avago Technologies from $75.00 to $84.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Zacks downgraded shares of Avago Technologies from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 21st. They now have a $79.00 price target on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of Avago Technologies to $82.00 in a research note on Tuesday, August 19th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Avago Technologies currently has an average rating of “Buy” and a consensus price target of $82.17.
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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