The firm increased the price target to $48 from $40 for the American fabless semiconductor company.
Goldman Sachs said product cycles in 2015/2016 should drive EPS upside, and raised the annual EPS estimate to $3.15 from $3.00 for fiscal 2016.
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"We expect gross margins to improve with higher Infrastructure mix, helping the P/E multiple to expand," said Goldman Sachs analyst Mark Delaney.
Separately, TheStreet Ratings team rates BROADCOM CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BROADCOM CORP (BRCM) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."