UPDATE: Jefferies Lowers PT on Broadcom Following LTE Asset Acquisition from Renesas
September 05, 2013 at 12:01 PM EDT
In a report published Thursday, Jefferies analyst Mark Lipacis reiterated a Buy rating on Broadcom Corporation (NASDAQ: BRCM ), but lowered the price target from $38.00 to $34.00. In the report, Jefferies noted, “The LTE asset acquisition from Renesas provides carrier-validated LTE modems and accelerates BRCM's entrance to the space.
