Broadcom upgraded to Outperform from Perform at Oppenheimer Oppenheimer upgraded Broadcom to Outperform citing an improved margin and cash flow profile following the exit of the baseband business. Opco sees multiple catalysts ahead and expects improved capital allocation.
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.