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Credit Suisse Maintains a Buy Rating on Broadcom (AVGO)


In a report released yesterday, John Pitzer from Credit Suisse maintained a Buy rating on Broadcom (AVGO), with a price target of $300. The company’s shares closed on Tuesday at $232.04.

According to TipRanks.com, Pitzer is a top 100 analyst with an average return of 18.0% and a 64.6% success rate. Pitzer covers the Consumer Goods sector, focusing on stocks such as Applied Materials Inc, Rudolph Technologies, and Brooks Automation.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Broadcom with a $289.55 average price target, a 24.8% upside from current levels. In a report issued on December 3, B.Riley FBR also upgraded the stock to Buy with a $300 price target.

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The company has a one-year high of $275.70 and a one-year low of $197.46. Currently, Broadcom has an average volume of 3.69M.

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Broadcom, Inc., is a holding company, which engages in the design, development and supply of analog and digital semiconductor connectivity solutions. It serves four primary end markets: wired infrastructure, wireless communications, enterprise storage and industrial & other.

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