Citi Maintains Buy on Avago Technologies (AVGO)

Citi is out with its report today on Avago Technologies (NASDAQ: AVGO), maintaining Buy.

In a note to clients, Citi writes, "AVGO dipped 4.6% Tues. post market after FNSR guided Apr-Q rev down -8% qq (prior Citi +2.5% qq) citing weakness in long-haul optical products. Any carryover weakness to AVGO Wednesday should be bought aggressively i.e., investors waiting to buy AVGO around secondary pull-backs should view Wed's pull-back as a similar temporary n/t discount, and as such, an opportunity to buy."

Citi maintains a $40 PT on AVGO.

Shares of AVGO traded after hours at $30.88, down 4.66% from Tuesday's close.