Broadcom guidance slightly worse than expected, says Brean Capital Brean Capital said Broadcom reported better than expected Q4 results but guided Q1 lower than expected due to softness in Wireless Connectivity. The firm raised its estimates and price target on the belief strength in Broadband and Networking will offset some of the losses in the Mobile and Wireless businesses. Shares are Buy rated and price target raised to $34 from $33.
Broadcom pullback a buying opportunity, says Canaccord Canaccord said the pullback in Broadcom due to weakness in the semiconductor space is a buying opportunity. The firm believes the company is well positioned for steady long-term growth in its Home and Infrastructure businesses. Canaccord reiterates its Buy rating on Broadcom but lowers its price target to $45 from $46.