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Fly News Breaks for May 31, 2017
BRCD, AVGO
May 31, 2017 | 06:46 EDT
Loop Capital analyst Betsy Van Hees raised her price target on Broadcom (AVGO) to $270 from $251 ahead of the company's Q2 earnings report due out tomorrow, noting that she expects the results to beat consensus expectations and for the company's Q3 guidance to be largely in-line with her above-consensus forecast. Van Hees maintains a Buy rating on Broadcom shares and recommends investors keep adding to positions, citing the benefits from its previous acquisition and the pending deal for Brocade (BRCD).
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