William L. Moore
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Brean Capital Raises Broadcom Price Target

Brean Capital believes Broadcom Ltd is poised for above-average growth with industry leading profitability at a cheap valuation as it reiterated its Buy rating on the stock.

Broadcom reported another impressive quarter as it positioned itself in some of the strongest and fast growing end markets in the semiconductor industry such as data center/networking and wireless.

"[M]ore importantly, AVGO demonstrated how this strategy is paying off in leverage in the financial model of the combined company as EPS is "out growing" revenue on a sequential basis by2x at least for the Jul-16Q and Oct-16Q," analyst Mike Burton wrote in a note.

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