Avago Technologies PT Raised to $100.00 (AVGO)
Equities researchers at Citigroup Inc. lifted their target price on shares of Avago Technologies (NASDAQ:AVGO) from $90.00 to $100.00 in a research report issued on Friday. The firm currently has a “buy” rating on the stock. Citigroup Inc.’s target price suggests a potential upside of 16.16% from the company’s current price.
Shares of Avago Technologies (NASDAQ:AVGO) opened at 86.09 on Friday. Avago Technologies has a 52-week low of $38.23 and a 52-week high of $87.25. The stock’s 50-day moving average is $74.33 and its 200-day moving average is $68.41. The company has a market cap of $21.695 billion and a price-to-earnings ratio of 75.06.
Avago Technologies (NASDAQ:AVGO) last posted its quarterly 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 $4.65 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on AVGO. Analysts at Zacks reiterated a “neutral” rating on shares of Avago Technologies in a research note on Thursday. They now have a $90.00 price target on the stock. Separately, analysts at Davidson raised their price target on shares of Avago Technologies from $75.00 to $84.00 in a research note on Tuesday. Finally, analysts at RBC Capital raised their price target on shares of Avago Technologies from $87.00 to $99.00 in a research note on Friday, August 29th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Avago Technologies has a consensus rating of “Buy” and a consensus target price of $88.06.
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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