Broadcom (BRCM:Nasdaq - news): 2001 fiscal EPS DOWN to $1.35 from $1.55 at W.R. Hambrecht.
BROADCOM (BRCM): Reducing Estimates NASDAQ: BRCM Rating: BUY (We anticipate the stock will outperform its peer group over the next 12 months.) Sector: Communications Components Price Target: $125 Jim Liang reduces estimates for Broadcom following the Company's recent announcement that growth would be lower then previous guidance. We are reducing our estimates for Broadcom following the Company's recent announcement that growth would be lower then previous guidance. Consistent with our expectations, the Company cited continued an inventory correction from Cisco, slowdown in the enterprise market, and continued inventory correction in the cable modem market as reasons for the shortfall. We are maintaining our Buy recommendation, as we believe the current share valuation largely reflects the near-term growth deceleration.
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Broadcom (BRCM-NNM)
by W.R. Hambrecht (92.50, Feb. 7)
We are reducing our 12-month price target from $200 to $125, based on what we see as increasing near-term growth challenges, i.e., continued inventory correction from Cisco and some slowdown in the enterprise market and continued inventory correction in the cable modem market. However, we are maintaining our Buy recommendation for the stock, as our long-term enthusiasm for the Broadcom story remains unchanged, and we believe the company is well positioned to resume accelerated growth once the inventory correction is completed
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So much for that forward PE talk..... |
