TD Cowen analyst Joshua Buchalter has maintained their bullish stance on AVGO stock, giving a Buy rating today.
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Joshua Buchalter has given his Buy rating due to a combination of factors that highlight Broadcom’s strong position in the AI sector. The company’s recent financial results exceeded expectations, particularly in AI-related revenue, which is a critical area for growth in the technology sector. Broadcom’s ability to secure two additional custom accelerator programs indicates a robust demand for its AI infrastructure solutions.
Furthermore, the company’s guidance for increased AI revenue in the upcoming quarter suggests that Broadcom’s custom AI accelerators are expanding beyond their initial programs. This growth is supported by the anticipated ramp-up of the TPU v6 program, which is expected to significantly boost AI revenue in the latter half of the fiscal year 2025. Broadcom’s strategic focus on custom silicon and its selective approach to customer engagements reinforce its competitive advantage and potential for sustained growth in the AI market.
In another report released today, DBS also maintained a Buy rating on the stock with a $250.00 price target.