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