FBR Capital Markets Removes Broadcom from "Top Picks List"  (BRCM)

FBR Capital Markets Removes Broadcom from “Top Picks List” (BRCM)

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FBR Capital Markets announced on Wednesday that it has cut its price target on communications company Broadcom Corporation (BRCM).

The firm has lowered its price target on BRCM to $32, suggesting a 21% increase from the stock’s current price of $25.39. BRCM has also been removed from FRB Capital’s “Top Picks List” as the company is losing market share.

Broadcom shares were mostly flat during pre-market trading Wednesday. The stock is down 24% YTD.

The Bottom Line

Shares of Broadcom Corporation (BRCM) have a 1.73% yield based on Tuesday’s closing price of $25.39.

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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