NEW YORK (TheStreet) -- Shares of Avago Technologies Ltd. (AVGO) are higher by 1.48% to $100.72 in pre-market trading on Thursday, as analysts at Barclays raise their price target on the semiconductor company to $115 from $108.
The firm said it increased its numbers on Avago Technologies as it believes the company is a leader in its sector, and that its content at Apple (AAPL) is likely to increase.
"Apple supply chain seems fairly normal into quarter 1 with China, along with an improving Samsung (SSNLF) helping to offset. As such we raise our price targets for the group, with Avago remaining one of our top picks given their leadership, likely continued content increases at Apple, and their consolidated track record," Barclays said.
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Separately, TheStreet Ratings team rates AVAGO TECHNOLOGIES LTD as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate AVAGO TECHNOLOGIES LTD (AVGO) a BUY. This is driven by a few notable strengths, 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 robust revenue growth, good cash flow from operations, 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."