Avago Technologie (AVGO) PT Raised to $90 at Barclays on Strong Q3, Outlook

Barclays analyst Blayne Curtis reiterated an Overweight rating and boosted his price target on Avago Technologies (NASDAQ: AVGO) to $90.00 (from $85.00) following better results and guidedance significantly ahead, driven in large part by a large step-up in iPhone content but also fairly broad strength across its other end markets.

"The Wireless segment is expected up over 60% Q/Q, suggesting IP6 content of $5.50-6.00 (up 70-80%) but also continued strength in China LTE," Curtis noted. "The FBAR secular growth story continues to play out and is a main reason why the name is a top pick for us, but AVGO is also showing it can be a consolidator in semis with merger synergies on track and recent asset sales helping to pay down debt and enable further acquisitions, buybacks, and dividends."

For an analyst ratings summary and ratings history on Avago Technologies click here. For more ratings news on Avago Technologies click here.

Shares of Avago Technologies closed at $76.36 yesterday.

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