Broadcom multiple can expand, says Bernstein Bernstein believes that Broadcom is likely to make changes to its capital allocations that can result in its multiple expanding. The firm raised its price target on the shares to $44 from $42 and keeps an Outperform rating on the stock.
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Broadcom has meaningful upsise, says Morgan Stanley Morgan Stanley said Broadcom management is in the early stages of transforming the company to one of stable growth and high profitability from one focused on growth, which should catch the focus of investors. The firm expects shares to trade higher and reiterates its Overweight rating and raises its price target to $44.