Tech Today: Broadcom's Best Deal? Somber on Netflix, Cheers for ASML
Here are some things going on today in the world of tech: People are still debating Broadcom’s (AVGO) announcement last week it will spend $19 billion to acquire software maker CA (CA), with a healthy debate over the merits and drawbacks of the deal. Broadcom shares are up $1.88, or 0.9%, at $204.34, while CA is down 3 cents $44.04, just below the deal’s offer price of $44.50. For the bullish view, Piper Jaffray’s Harsh Kumar reiterates an Overweight rating on Broadcom stock, and a $293 price target, after having talked to CFO Tom Krause on Friday, a chat that left him “extremely comfortable with the CA acquisition." "In our humble opinion, it may end up being one of Broadcom’s best acquisitions over the last several years." Kumar writes that Broadcom will tweak some things, leaving others alone.