NEW YORK (TheStreet) -- CHANGE IN RATINGS
Broadcom (BRCM) was downgraded at Citigroup to neutral from buy and given a $34 price target. Multiples expansion will be hard given weak smartphone growth and connectivity competition, said Citigroup.
Broadcom was downgraded at William Blair to market perform from outperform. Heavy concentration in the baseband business will lead to continued volatility, William Blair said.
Broadcom was downgraded at BMO Capital to market perform. $30 price target. Apple (AAPL) and Samsung may soon introduce their own connectivity solutions, BMO Capital said.Dish Network (DISH) was downgraded at Wunderlich to hold from buy. $50 price target. Company may have to purchase T-Mobile to monetize its spectrum, Wunderlich said.
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