January 8, 2013

Avago pullback a buying opportunity, says Citigroup

Citigroup recommends using the recent weakness in shares of Avago to add to positions in the name. After meeting with the company at CES, Citi believes iPhone fears are overblown and that Avago is well positioned to meet its January quarter wireless guidance. The firm keeps a Buy rating on the stock with a $45 price target.


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