Credit Suisse Boosts Target, Estimates for Broadcom (BRCM)

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Wireless chipmaker Broadcom Corporation ( BRCM ) on Friday saw its price target and earnings estimates lifted by analysts at Credit Suisse.

The firm maintained its "Outperform" rating on BRCM and lifted its price target to $50, suggesting a massive 34% upside to the stock's Thursday closing price of $37.41.

Credit Suisse also boosted its earnings estimates for the company through 2013, noting the company is well-leveraged to benefit from continued smartphone and tablet computer growth.


Broadcom shares, which have surged 27% since the start of 2012, were unchanged in premarket trading Friday.

The Bottom Line
Shares of Broadcom ( BRCM ) have a 1.07% dividend yield, based on last night's closing stock price of $37.41. The stock has technical support in the $34 price area. If the shares can firm up, we see overhead resistance around the $40-$41 price levels.

Broadcom Corporation ( BRCM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: BRCM

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