Citi raised the firm’s price target on Broadcom (AVGO) to $415 from $350 and keeps a Buy rating on the shares. The firm estimates the company’s deal with OpenAI could bring in $100B in sales and $8.00 in earnings per share over the next few years. It upped estimates on the pact.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% 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 price target raised to $450 from $400 at Barclays
- Broadcom price target raised to $415 from $365 at UBS
- Broadcom’s Strategic Partnerships and AI Ventures Propel Buy Rating and Revenue Growth Forecast
- Broadcom’s Strategic Partnership with OpenAI Fuels Buy Rating and Increased Price Target
- Why Is Arm Holdings Stock (ARM) Soaring in Pre-Market Today?