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Analysts are weighing in today on semiconductor concern Broadcom Corporation (NASDAQ:BRCM), banking giant Wells Fargo & Co (NYSE:WFC), and drugstore chain Walgreen Company (NYSE:WAG). Here's a quick roundup of today's bullish brokerage notes.
- BRCM explored two-year-high territory last week, peaking at $38.05 on Friday, before settling at its current perch at $38.02. The stock -- which is a notorious outperformer in June -- has tacked on 19.3% already this month. With that being said, it isn't surprising that BMO lifted its price target on Broadcom Corporation to $41 from $27 this morning. Meanwhile, short-term speculators have been more call-heavy that usual toward BRCM. The equity's Schaeffer's put/call open interest ratio (SOIR) sits at 0.41 -- down 22.6% from its May 30 reading of 0.53. What's more, the current ratio ranks in the bottom 10% of its 12-month range. In other words, call open interest (relative to put open interest) is at a near-annual-high level among options expiring within the next three months.
- WFC -- which hit a record peak of $52.02 on Friday, before closing at $51.98 -- received a price-target hike to $56 from $51 at KBW this morning. While the stock is up 14.5% year-to-date, 11 of the 21 covering analysts have dished out "hold" or "strong sell" suggestions. Meanwhile, the average 12-month price target of $52.48 is less than 1% from the shares' current price. As such, the door is still wide open for more upgrades and/or price-target increases in the near term, which could create additional tailwinds for Wells Fargo & Co.
- Having climbed 30.6% so far this year to trade at $75.03, WAG scored a price-target lift to $83 from $78 at Mizuho earlier today. Elsewhere, the brokerage crew appears to be less optimistic toward Walgreen Company. The consensus 12-month price target among covering analysts is $71.23, denoting a 5.1% discount to the stock's current perch. Plus, the equity sports 11 "buy" or better endorsements, eight "holds," and two "sell" or worse recommendations.