Drexel Hamilton Upgrades Broadcom to "Buy" (BRCM)

Drexel Hamilton Upgrades Broadcom to “Buy” (BRCM)


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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