J.P. Morgan Reiterates Overweight Rating On Broadcom

According to J.P. Morgan, Broadcom (NASDAQ: BRCM) Overweight rating is reiterated.

J.P. Morgan said that, after meetings with Broadcom's CFO, Eric Brandt, this week, it came away feeling confident about the growth outlook for BRCM in 2H of this year and through 2012. “The company remains laser focused on new product development: 4G LTE, NFC, next gen connected home architectures, and 10G PON access technologies to name a few.”

Broadcom closed yesterday at $33.90.