Avago’s Pullback Seen as Buying Opportunity and 2 Stock Analyses to Note
Avago Technologies Limited (NASDAQ:AVGO): Lazard Capital recommended that investors use Friday’s pullback in shares of Avago Technologies Limited as a buying opportunity. The firm attributes the sell-off during management’s analyst day to comments regarding challenging end markets, but anticipates the company can continue to navigate highly competitive markets. Lazard Capital keeps a Buy rating on Avago with a $44 price target.
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QUALCOMM Incorporated (NASDAQ:QCOM): Bernstein said that Qualcomm Incorporated’s first quarter 2013’s 3G handset market value was up 12%-14% above the high end of the company’s 1%-10% guidance. The firm thinks that weak iPad sales may reduce the figure to the high end of Qualcomm’s guidance, but they maintain an $80 price target and Outperform rating on Qualcomm.
Kraton Performance Polymers Inc. (NYSE:KRA): After meeting with Kraton Performance Polymers Inc.’s management, Oppenheimer lowered their target on the stock as the firm thinks that the recovery in the chemicals sector “could be rather muted”, while Kraton’s costs will be higher than expected. Nevertheless, the firm believes that the company will have several positive catalysts in 2013 and they maintain an Outperform rating on the shares.
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