NEW YORK (TheStreet) -- Broadcom (AVGO) - Get Report shares closed Tuesday's trading session up 0.69% to $154.36 as BMO Capital Markets continues to be positive on the company's fiscal 2016 second quarter results due out Thursday after the market close.
In a note issued to investors today, the firm reiterated its "outperform" rating on the stock with a price target of $185.
Analysts are looking for earnings of $2.38 a share on revenue of $3.55 billion for the recent period.
In February, Avago, which makes semiconductors for the cellular, automotive and defence industries completed its $37 billion-acquisition of Broadcom, the wireless chipmaker.
Ahead of earnings, "We see Broadcom continuing to execute through a challenging macro environment," analysts said.
It also appears that Broadcom's business is on track to devlier on the expectations for the April quarter.
Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of A+.
The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, notable return on equity and expanding profit margins. We feel its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
You can view the full analysis from the report here: AVGO