A Broadcom chipDavid Paul Morris | Bloomberg | Getty PhotosIssues about Broadcom's latest acquisition of Symantec's enterprise software program ent
A Broadcom chip
David Paul Morris | Bloomberg | Getty Photos
Issues about Broadcom’s latest acquisition of Symantec’s enterprise software program enterprise are overblown and the inventory is a compelling shopping for alternative, Morgan Stanley advised its purchasers on Tuesday.
Lead fairness analyst Craig Hettenbach upgraded the inventory to chubby from equal-weight and bumped his 12-month value goal to $367 from $298, implying almost 18% upside over the following 12 months. Broadcom inventory rose 2% in premarket buying and selling Tuesday following the Morgan Stanley improve. Hettenbach calls it “our new prime choose.”