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Analysts Are Bearish on the Broadcom–CA Technologies Deal

Paige Tanner
Analysts Are Bearish on the Broadcom–CA Technologies Deal

Broadcom (AVGO) has had a strong foothold in the stock market, with shareholders and analysts bullish on the stock. However, its announcement that it planned to acquire CA Technologies (CA) saw six Wall Street analysts downgrade their ratings for Broadcom from “buy” to “hold.” As a result, the stock’s median price target fell from $311 to $300.