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Fly News Breaks for December 7, 2018
AVGO
Dec 7, 2018 | 07:49 EDT
Jefferies analyst Mark Lipacis raised his price target for Broadcom to $314 citing last night's October quarter beat and 2019 outlook increase. The analyst views Broadcom as a capital return play with $12B in cash returning to shareholders in fiscal 2019 through dividends and buybacks. The 10% free cash flow yield and 4.6% dividend yield is compelling, Lipacis tells investors in a post-earnings research note. He reiterates a Buy rating on the name and remains a buyer of the stock.
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