Broadcom price target raised to $662 from $630 at Truist

Truist analyst William Stein raised the firm’s price target on Broadcom to $662 from $630 and keeps a Buy rating on the shares. In contrast with "more negative industry datapoints", Broadcom delivered a "good" Q4 and outlook, the analyst tells investors in a research note. All of the company’s end markets did well, and its robust cash flows led to a significant 12% dividend increase, preserving Broadcom’s "aristocrat status", Stein adds.