Drexel Hamilton Upgrades Broadcom to "Buy" (BRCM)

Drexel Hamilton Upgrades Broadcom to “Buy” (BRCM)

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Drexel Hamilton reported on Monday that it has upgraded communications company Broadcom Corporation (BRCM).

The firm has raised its rating on BRCM from a “Hold” to a “Buy,” and has given the company a $38 price target. This price target suggests a 29% increase from the stock’s current price of $26.89.

Analysts see an upside in the company’s Broadband and multimedia businesses.

Broadcom shares were mostly flat during premarket trading Monday. The stock is down 19% YTD.

The Bottom Line
Shares of Broadcom Corporation (BRCM) have a 1.64% yield, based on Friday’s closing price of $26.89.

Broadcom Corporation (BRCM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 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.

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