Oppenheimer analyst reiterates Broadcom buy rating ahead of Q2 earnings
By
Hillary Remy
10d ago· 4 min readenInsight
90/100
Golden Brown
Bagelometer↗
Kettled twice. Extra chewy, extra trustworthy.
Score90TypeanalysisSentimentpositive
Summary
Oppenheimer analyst Rick Schafer reiterates a buy rating on Broadcom ahead of its fiscal Q2 earnings report on June 3. Despite the stock being up 80% over the past year and trading at 37 times forward earnings, Schafer believes the company will clear expectations. He is a top-100 Wall Street analyst with a 70.74% success rate and 26.8% average return.
Key quotes
· 3 pulledOne of the most respected semiconductor analysts on Wall Street just looked at all of that and said the company is likely to clear it anyway.
His reasoning is specific, and it goes beyond the headline revenue number.
Oppenheimer analyst Rick Schafer, a top-100 Wall Street analyst with a 70.74% success rate and 26.8% average
Broadcom reports fiscal second-quarter earnings on June 3.
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