Why Broadcom Stock Was a Winner on Wednesday
An analyst's recommendation upgrade put some lively zip in 's (NASDAQ: AVGO) stock price on Wednesday. On news of the move, investors eagerly snapped up shares of the hardware and software company, sending its stock price more than 2% higher. That was a steeper climb than the S 500's (SNPINDEX: ^GSPC) 0.7% increase on the day.
Well before market open on Hump Day, Daiwa Securities' Louis Miscioscia moved Broadcom up one notch, from outperform to buy. He also changed his price target. Interestingly, this meant a reduction -- it's now $225 per share, against the former level of $275.
Even at the reduced figure, Miscioscia is anticipating plenty of upsides for the stock -- $225 is nearly 31% higher than Broadcom's Wednesday closing price.
Source Fool.com
Broadcom Ltd. Stock
With 82 Buy predictions and not a single Sell prediction Broadcom Ltd. is an absolute favorite of our community.
With a target price of 396 € there is a slightly positive potential of 16.2% for Broadcom Ltd. compared to the current price of 340.8 €.
