BofA raised the firm’s price target on Broadcom (AVGO) to $260 from $250 and keeps a Buy rating on the shares following a “reassuring” quarter and outlook that included beating Q4/Q1 consensus AI expectations by about 10% each, reaffirming a $60B-$90B calendar year 2027 served addressable opportunity across three existing AI customers, expanding incremental customer engagement for a total of seven existing and new engagements, and noting no near-term concerns regarding tariffs or restrictions in dealing with non-U.S. customers. Broadcom also “brushed aside recent media reports regarding M&A,” notes the analyst, who reiterates the stock as a “top pick.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVGO:
- Broadcom’s Strong AI Position and Growth Potential: A Buy Recommendation by Joshua Buchalter
- Broadcom’s Strong AI Growth and Strategic Positioning Justify Buy Rating
- Broadcom’s AI Sector Success and Strategic Partnerships Drive Buy Rating
- Broadcom’s Strong AI Market Position and Growth Potential Justifies Buy Rating
- Broadcom (AVGO) Blasting Higher as it “Takes the Battle” to Rival Nvidia (NVDA)