Truist raised the firm’s price target on Broadcom (AVGO) to $365 from $295 and keeps a Buy rating on the shares. The company’s “low drama” Q3 earnings beat and guidance raise was made more “dramatic” by the management’s comments about its AI business, namely the addition of a 4th AI infrastructure customer, a “gentle” reiteration that heritage AI customers will continue to grow about 60% in FY26, and that the new customer would add $10B to sales in the second half of FY26, the analyst tells investors in a research note. Truist adds that it is raising its 2026 EPS view to $10.46 from $9.18 and recommends that investors buy the stock for “AI growth with duration”.
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