VMware Deal Could Generate Broadcom's (AVGO) Return Targets - BMO Capital
BMO Capital analyst Ambrish Srivastava reiterated an Outperform rating and $675.00 price target on Broadcom Limited (NASDAQ: AVGO) following reports it is in talks to acquire VMware in a stock and cash deal.
The analyst commented, "We do not know whether Broadcom will make an offer for VMware. A deal such as this would be consistent with the company's intent to grow its enterprise software business. Given Broadcom's record on meaningfully increasing EBITDA, we could see the deal generating the return Broadcom targets. We continue to rate shares of AVGO Outperform."
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Shares of Broadcom Limited closed at $543.19 yesterday.