Fly News Breaks for November 9, 2015
BRCM, AVGO
Nov 9, 2015 | 08:41 EDT
Morgan Stanley said it is a buyer of Avago (AVGO) ahead of Broadcom (BRCM) integration. Analyst Craig Hettenbach sightly trimmed estimates for the next 2 quarters, which appears to be reflected in valuation, but sees meaningful acceleration in growth in second half 2016 driven by in increasing content growth in iPhone 7 and increasing FBAR filter sales to Chinese smartphone OEMs for their LTE devices. Hettenbach rates Avago an Overweight with a $158 price target on shares.
News For AVGO;BRCM From the Last 2 Days