Barclays reinstates Broadcom at 38% upside

• Barclays reinstates coverage on Broadcom (NASDAQ:AVGO) with an Overweight rating and $335 price target, a 38% upside to Friday’s close.
• Analyst Blayne Curtis views Broadcom as one of the best semiconductor franchise names and thinks the valuation discount can vanish as management drives earnings higher than the peers.  
• Broadcom shares are up 2.1% premarket to $247.66.