Oppenheimer Raises Avago Technologies Price Target to $100.00 (AVGO)
Analysts at Oppenheimer upped their target price on shares of Avago Technologies (NASDAQ:AVGO) from $85.00 to $100.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 30.96% from the company’s current price.
Shares of Avago Technologies (NASDAQ:AVGO) traded up 8.73% during mid-day trading on Friday, hitting $83.03. 2,516,358 shares of the company’s stock traded hands. Avago Technologies has a one year low of $38.04 and a one year high of $77.21. The stock’s 50-day moving average is $73.06 and its 200-day moving average is $67.58. The company has a market cap of $20.900 billion and a P/E ratio of 32.11.
Avago Technologies (NASDAQ:AVGO) last announced its earnings results 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. Analysts expect 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 Deutsche Bank raised their price target on shares of Avago Technologies from $80.00 to $90.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus 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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