Baird raised the firm’s price target on Broadcom to $1,500 from $1,265 and keeps an Outperform rating on the shares. The firm loked at catalysts and said strength in AI is more than offsetting incremental weakness in broadband and storage, reflecting on the dichotomy in demand between AI and the rest of the market.
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Read More on AVGO:
- The Week That Was, The Week Ahead: Macro & Markets, March 10, 2023
- Broadcom price target raised to $1,566 from $1,240 at Truist
- Broadcom price target raised to $1,650 from $1,250 at Piper Sandler
- Broadcom price target raised to $1,650 from $1,550 at Susquehanna
- Broadcom price target raised to $1,400 from $1,000 at TD Cowen