Broadcom price target raised to $250 from $215 at BofA

BofA analyst Vivek Arya raised the firm’s price target on Broadcom (AVGO) to $250 from $215 and keeps a Buy rating on the shares. Near-term results were inline, but following the quarterly report BofA raised its FY25 and FY26 pro-forma EPS forecasts by 5% and 3% to $6.27 and $7.50, respectively, as its calls out a “surging AI opportunity” for the “custom-chip leader.”