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Fly News Breaks for July 23, 2018
CA, AVGO
Jul 23, 2018 | 08:55 EDT
SunTrust analyst William Stein lowered his price target on Broadcom (AVGO) to $325 to reflect the company's stock price decline after its acquisition of CA Technologies (CA), but calls its valuation a "flash sale" and keeps his Buy rating. The analyst states that his subsequent conversations with the management has increased his comfort with the strategic rationale of the deal as well as the health of the company's core business, adding that the current Broadcom stock price still presents investors with a "great buying opportunity".
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