Oppenheimer raised the firm’s price target on Broadcom to $990 from $900 and keeps an Outperform rating on the shares. The company reported in-line fiscal Q3 results and guidance, the analyst tells investors in a research note. The firm says Broadcom is navigating to a cyclical “soft landing” as non-artificial intelligence semiconductor sales trend around $6B per quarter. Opco likes the company’s “sustained growth” led by franchises data center/cloud, networking, wireless and software.
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