Broadcom price target raised to $1,550 from $1,450 at Mizuho

Mizuho raised the firm’s price target on Broadcom to $1,550 from $1,450 and keeps a Buy rating on the shares. The analyst is taking a longer-term look at the artificial intelligence and custom silicon landscape. The firm cites positive AI custom silicon and ethernet tailwinds for the target increase. It sees further multiple expansion with multiple catalysts ahead.