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Fly News Breaks for July 25, 2018
CA, AVGO
Jul 25, 2018 | 08:01 EDT
KeyBanc analyst John Vinh lowered his price target for Broadcom (AVGO) to $260 from $325, while reiterating an Overweight rating on the shares. After discussing the acquisition of CA Technologies (CA) with Broadcom's management, the analyst feels more comfortable with the current state of the business and better understand the rationale behind the deal. Vinh believes the selloff is overdone and sees a recovery into earnings given healthy business trends, but he still has concerns about CA and questions regarding management's long-term strategy.
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