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.
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