Raymond James assumed coverage of Broadcom with a Market Perform rating and no price target. The company is not immune from cyclical headwinds, as it has 30% exposure to enterprise and 20% to wireless, which face potential demand slowdowns, the analyst tells investors in a research note. The firm sees the Broadcom stock upside as modest, even in a "soft-landing scenario."
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on AVGO:
- AVGO Little Changed after Solid Earnings Report
- Broadcom Inc. Announces First Quarter Fiscal Year 2023 Financial Results and Quarterly Dividend
- Broadcom price target raised to $685 from $650 at Susquehanna
- Broadcom initiated with an Outperform at Exane BNP Paribas
- Broadcom set to receive EU warning over VMware deal, Reuters reports