Avago Technologies (AVGO) PT Raised to $114 at RBC Capital
RBC Capital analyst Doug Freedman reiterated an Outperform rating and boosted his price target on Avago Technologies (NASDAQ: AVGO) to $114.00 (from $109.00) following strong results.
Freedman commented, "A strong beat and raise result driven by FBAR. Despite a 15% increase in our AVGO PT in the last week, we still view our estimates as conservative in light of the print and guidance, as we believe that FBAR growth still has significant legs."
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Shares of Avago Technologies closed at $95.13 yesterday.