Goldman Sachs added Broadcom (BRCM), Conexant Systems (CNXT) Microtune (TUNE) and Qualcomm (QCOM) to its recommended list. The stocks were previously rated market outperform.
Analyst Nathaniel Cohn says he upgraded several communication integrated circuit (IC) stocks to reflect what he believes is the bottoming out of businesses and stock prices. Also, he added Marvell Technology Group (MRVL) to his recommended list for similar reasons.
Cohn says he continues to favor those exposed to enterprise, cable and wireless markets given their relative health. He notes with recent stock pullbacks and increased data points suggesting a bottoming-out of businesses, he believes now is the time to focus more on investment rather than just a trade.