Deutsche Bank Increases Avago Technologies Price Target to $90.00 (AVGO)
Research analysts at Deutsche Bank upped their price objective on shares of Avago Technologies (NASDAQ:AVGO) from $80.00 to $90.00 in a report released on Friday. The firm currently has a “buy” rating on the stock. Deutsche Bank’s target price suggests a potential upside of 17.86% from the stock’s previous close.
Shares of Avago Technologies (NASDAQ:AVGO) traded up 8.71% on Friday, hitting $83.01. 2,510,871 shares of the company’s stock traded hands. Avago Technologies has a 52-week low of $38.04 and a 52-week 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 $20.895 billion and a P/E ratio of 32.11.
Avago Technologies (NASDAQ:AVGO) last released its earnings data on Thursday, August 28th. The company reported $1.26 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue 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.
A number of other analysts have also recently weighed in on AVGO. Analysts at Canaccord Genuity raised their price target on shares of Avago Technologies from $83.00 to $95.00 in a research note on Friday. Separately, 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. Finally, 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. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Avago Technologies presently has an average rating of “Buy” and a consensus target price 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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