Denver, CO, 06/12/2014 (Stocksntrade) – Broadcom Corporation (NASDAQ:BRCM) recently received a stock price upgrade from investment analysts at BMO Capital Markets. The analysts raised their price target for the stock to $41, from previously set price objective of $27. The analysts now maintain a “market perform” rating on the stock. Given the recent rally in the stock prices, the new price target suggest around 8% potential upside from the stock’s previous close.

On Wednesday, Broadcom Corporation shares closed at $38, gaining 0.16% from its previous close. The stock has seen much upside in the recent past and is trading along its recent 52-week high of $38.48, significantly up from 52-week low of $23.25.

Analyst Updates

Several analysts have recently commented for the stock of Broadcom Corporation (NASDAQ:BRCM), including investment analysts at BNP Paribas who upgraded the stock to a “neutral” rating from an “underperform” rating in a research note issued during last week. The analysts also upgraded their price target for the stock from $26 to $35. Secondly, investment analysts at Barclays also upgraded the stock to an “equal weight” rating from an “underweight” while significantly raising the price target for the stock to $40 from a previously set price target of $28. Investment analysts at Drexel Hamilton also upgraded the stock to a “buy” rating from a “hold” rating with a price target of $45, in a research note issued on June 4, 2014.

Consensus Rating

The stock of Broadcom Corporation (NASDAQ:BRCM) has recently been assigned a “buy” rating by 20 investment analysts; a “hold” rating by 16 investment analysts; and a “sell” rating by one analyst. The stock currently has a consensus rating of “buy” with an average price target of $37.28 which is lower than the stock’s previous closing price.

Headquartered in Irvine, California, Broadcom Corporation provides semiconductor solutions offering voice, data, video and multimedia connectivity for the home, office and mobile communications.

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