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Broadcom stock rises after analysts cheer clarity on CA deal

Emily Bary

Shares of Broadcom Inc. (avgo) are up 4.2% in premarket trading Friday after the company reported better-than-expected earnings for its latest quarter. Broadcom has drawn criticism in recent weeks for its planned acquisition of CA Technologies (ca) but analysts were generally upbeat after the report. "While the recent volatility following the CA deal announcement was painful, they may be on the mend as there was a lot to like on this call," wrote Bernstein's Stacy Rasgon, who has an outperform rating and $275 price target on the stock.