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Fly News Breaks for December 9, 2016
AVGO
Dec 9, 2016 | 07:28 EDT
Canaccord analyst T. Michael Walkley noted Broadcom reported strong Q4 results and issued guidance above the Street's estimates. He said management continues to execute on synergy targets and increased its long-term operating margin targets to 45% from 40%, positioning the company for solid long-term sales and earnings growth with industry leading margins. Walkley reiterated his Buy rating and $250 price target on Broadcom shares.
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