Broadcom Limited (AVGO) PT Raised to $255 at Deutsche Bank

Deutsche Bank raised its price target on Broadcom Limited (NASDAQ: AVGO) to $255.00 (from $235.00) while maintaining a Buy rating.

Analyst Ross Seymore comments "AVGO's strong beat/raise is clearly a positive, but we are most impressed by the co's improving FCF generation with DBe the co improving FCF margin to ~35% in CY17E vs. 22% in CY16. As rev growth remains solid and margins/FCF rise, we expect significant dividend increases (DBe +48% in CY18). This combination of strong fundamentals and rising cash returns to shareholders should further shrink the ~25% valuation discount vs. high quality peers."

Read what UBS thinks of Broadcom here.

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