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AVGO

Broadcom

$217.61

1.02 (0.47%)

, CA

Bought by AVGO

$43.96

0.03 (0.07%)

08:01
07/25/18
07/25
08:01
07/25/18
08:01

Broadcom price target lowered to $260 from $325 at KeyBanc

KeyBanc analyst John Vinh lowered his price target for Broadcom (AVGO) to $260 from $325, while reiterating an Overweight rating on the shares. After discussing the acquisition of CA Technologies (CA) with Broadcom's management, the analyst feels more comfortable with the current state of the business and better understand the rationale behind the deal. Vinh believes the selloff is overdone and sees a recovery into earnings given healthy business trends, but he still has concerns about CA and questions regarding management's long-term strategy.

AVGO

Broadcom

$217.61

1.02 (0.47%)

CA

Bought by AVGO

$43.96

0.03 (0.07%)

AVGO Broadcom
$217.61

1.02 (0.47%)

07/18/18
07/18/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Twitter (TWTR) downgraded to Neutral from Outperform at Macquarie with analyst Benjamin Schachter citing concerns about MAU trends, what he views as a limited set of near-term catalysts and a valuation he believes will likely limit upside from current levels. 2. Clorox (CLX) downgraded to Sell from Neutral at Goldman Sachs with analyst Jason English citing a combination of a lower volume forecast, lower gross margin expectation and renewed currency headwinds. 3. Autoliv (ALV) and Visteon (VC) were downgraded to Market Perform from Outperform at Wells Fargo. 4. Broadcom (AVGO) downgraded to Neutral from Buy at Goldman Sachs with analyst Toshiya Hari saying he sees increased uncertainty surrounding the company's "strategic focus going forward" following its acquisition of CA Technologies (CA). 5. Windstream (WIN) and Uniti Group (UNIT) were downgraded to Sell from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/20/18
UBSW
07/20/18
NO CHANGE
Target $300
UBSW
Buy
Broadcom weakness a buying opportunity, says UBS
UBS analyst Timothy Arcuri said the recent weakness in Broadcom (AVGO) is a buying opportunity as he believes his analysis supports his new $300 price target, down from his prior target of $330. He said the acquisition of CA (CA) will provide additional opportunities for Broadcom in software and infrastructure. Arcuri, who reiterated his Buy rating, said he sees potential for the sale of its wireless business, which could conservatively fetch roughly $28B.
07/23/18
RHCO
07/23/18
NO CHANGE
Target $325
RHCO
Buy
Broadcom price target lowered to $325 from $339 at SunTrust
SunTrust analyst William Stein lowered his price target on Broadcom (AVGO) to $325 to reflect the company's stock price decline after its acquisition of CA Technologies (CA), but calls its valuation a "flash sale" and keeps his Buy rating. The analyst states that his subsequent conversations with the management has increased his comfort with the strategic rationale of the deal as well as the health of the company's core business, adding that the current Broadcom stock price still presents investors with a "great buying opportunity".
07/24/18
ARGS
07/24/18
DOWNGRADE
ARGS
Hold
CA Technologies downgraded to Hold from Buy at Argus
Argus analyst Jim Kelleher downgraded CA Technologies (CA) to Hold from Buy, saying the stock price has risen past his prior price target of $40 and approaching the $44.50 per share bid price from Broadcom (AVGO). The analyst believes that because of its slow growth rate, CA is unlikely to generate a competing bid from other hardware companies looking to diversify their revenue with software assets, even though he still sees room for CA to further grow its earnings in the coming years.
CA Bought by AVGO
$43.96

0.03 (0.07%)

07/18/18
GSCO
07/18/18
DOWNGRADE
Target $220
GSCO
Neutral
Broadcom downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Toshiya Hari downgraded Broadcom (AVGO) to Neutral and cut his price target for the shares to $220 from $300. The stock closed yesterday up $5.06 to $208.31. The analyst sees increased uncertainty surrounding the company's "strategic focus going forward" following its acquisition of CA Technologies (CA). Hari wonders if Broadcom will now become more of a software company longer term and how sustainable its competitive position is in the core semiconductor business. Further, the analyst asks if Broadcom's share loss to Qorvo (QRVO) in the radio frequency space is the beginning of a trend. Management will need to provide greater clarity on their forward strategy and it will take time to gain investors' confidence, Hari tells investors in a research note.

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