Fly News Breaks for February 21, 2018
AVGO, QCOM
Feb 21, 2018 | 13:35 EDT
Stifel analyst Kevin Cassidy said earlier that Broadcom's (AVGO) lower offer of $79 per share may concern Qualcomm (QCOM) shareholders and motivate a vote for Broadcom board nominees. He now views the Broadcom acquisition as unlikely given the lower offer and cut his price target on Qualcomm shares to $68 from $82. Cassidy, who added that his "unscientific conversations" with Qualcomm shareholders reveal they are not convinced the company can earn $6.75-$7.50 per share in FY19, keeps a Hold rating on Qualcomm shares.
News For QCOM;AVGO From the Last 2 Days
AVGO
Apr 17, 2024 | 05:39 EDT
Barclays analyst Tom O'Malley raised the firm's price target on Broadcom (AVGO) to $1,500 from $1,405 and keeps an Overweight rating on the shares after hosting management for meetings. Broadcom is one of the unique companies that has a comprehensive view of the semis industry while also capable of providing an "intimate look" at the artificial intelligence market via custom silicon, the analyst tells investors in a research note. The firm says management highlighted the company's inroads with the consumer-facing AI world, providing a differing viewpoint versus Nvidia's (NVDA) vision of the world - pointing to a two-part market of consumer and enterprise that could grow to a 50/50 split over time. Barclays came away from the meetings "with a valuable second opinion on the future of AI and a greater appreciation for the company's many ways to win."
AVGO
Apr 17, 2024 | 05:24 EDT
Barclays analyst Tom O'Malley raised the firm's price target on Broadcom to $1,500 from $1,405 and keeps an Overweight rating on the shares. The analyst increased the price after hosting management for meetings.