Today’s Research Reports on Stocks to Watch: PayPal and Broadcom Ltd.
PayPal shares have been on a rally this year and Robert W. Baired believes the rally may be far from over. Broadcom Limited surpassed the Street’s expectations with its Q2 quarterly report and its CEO has finally denied the rumors that the company is bidding for Toshiba’s NAND flash memory-chips operations.
RDI Initiates Coverage on:
PayPal Holdings, Inc.
PayPal Holdings, Inc. shares had a modest close in the green up 0.68% on Friday but hit a new high of $53.64 during intra-day trading. The stock has had some amazing analyst ratings lately. Robert W. Baired has kept their "outperform" rating on the stock and has even called PayPal one of the market’s best performing stocks. Considering that shares have gained over 39% this year through last Thursday, it’s not hard to believe that. Analyst Colin Sebastian wrote in a note to clients, "We believe that the split from eBay (NASDAQ: EBAY) represents a rebirth of a platform that already has the benefit of global scale, a trusted brand, and mobile orientation. PayPal’s significant growth opportunities stem from the disruption in financial services caused by the digitization of money and broader shift to the mobile web."
Access RDI’s PayPal Research Report at:
Broadcom Limited saw some big gains on Friday and closed up 8.50%. The stock hit 52-week high of 255.82 during intra-day trading. Not only did the company release fiscal second quarter results that beat analysts’ expectations, but also forecast higher revenues looking ahead. Traders were also relieved to hear CEO Hock Tan deny rumors that Broadcom was interested in bidding for Toshiba’s NAND flash memory-chip operations. The Street had been speculating that this rumor could have been the cause of Toshiba and its memory-chip partner Western Digital having tension. Tan summed the rumors up by saying, "“Bottom line, don’t believe everything you read out there, please." Several analysts have strong ratings on the company. Pacific Crest’s John Vinh has given the stock an overweight rating with a price target of $280. Mike Walkley from Canaccord Genuity has a price target of $272 on the stock with a buy rating.
Access RDI’s Broadcom Research Report at:
Our Actionable Research on PayPal Holdings, Inc. (NASDAQ: PYPL) and Broadcom Limited (NASDAQ: AVGO) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.