Merrill Lynch analyst Vivek Arya reiterated a Buy rating on Broadcom (AVGO) today and set a price target of $345. The company’s shares closed last Monday at $300.58.
According to TipRanks.com, Arya is a 5-star analyst with an average return of 16.8% and a 60.4% success rate. Arya covers the Consumer Goods sector, focusing on stocks such as Intel Corporation, Kla-Tencor Corp, and Inphi Corp.
Currently, the analyst consensus on Broadcom is a Moderate Buy with an average price target of $315.26, which is a 4.6% 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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Broadcom’s market cap is currently $119.7B and has a P/E ratio of 35.78. The company has a Price to Book ratio of 5.40.
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