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Fly News Breaks for December 7, 2018
AVGO
Dec 7, 2018 | 07:58 EDT
UBS analyst Timothy Arcuri lowered his price target on Broadcom to $275 from $300 following Q4 results. The analyst noted the solid results in the face of an overall cautious tone from peers and noted its dividend increase and solid guidance. Arcuri said the options dilution was more than expected and the tone was clearly for more M&A. After lowering his free cash flow estimate he adjusted his price target lower. Arcuri reiterated his Buy rating on Broadcom shares.
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