In a report released today, Christopher Rolland from Susquehanna reiterated a Buy rating on Broadcom (AVGO), with a price target of $345. The company’s shares closed last Monday at $300.58.
According to TipRanks.com, Rolland is a 5-star analyst with an average return of 12.1% and a 66.8% success rate. Rolland covers the Consumer Goods sector, focusing on stocks such as Power Integrations, Skyworks Solutions, and Intel Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Broadcom with a $313.96 average price target, a 4.2% upside from current levels. In a report issued on September 9, Loop Capital Markets also maintained a Buy rating on the stock with a $310 price target.
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Based on Broadcom’s latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $691 million. In comparison, last year the company earned revenue of $5.06 billion and had a net profit of $1.2 billion.
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