Oppenheimer analyst Rick Schafer believes Broadcom will continue to take an aggressive, but opportunistic approach to M&A and sees a "meaningful" deal possible as soon as next year. While remaining price-sensitive, the analyst expects the company to continue to monitor the market for established core brands that will be accretive to its model if an opportunity presents itself. Schafer sees the potential for $15 of earnings power and $4.5B in free cash flow in 2017 as Broadcom executes on cost cuts, strategic divestitures and possible M&A. He reiterates an Outperform rating and $180 price target on the shares.