In a report released yesterday, Atif Malik from Citi maintained a Buy rating on Broadcom, with a price target of $458.00.
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Atif Malik has given his Buy rating due to a combination of factors tied to Broadcom’s strong and accelerating AI business. The company’s latest quarter showed AI-related semiconductor revenue more than doubling year over year and exceeding expectations, with particularly robust demand for custom AI accelerators and networking solutions that is now driving faster growth into the next quarter.
Additionally, Broadcom guided overall and AI-specific sales for the upcoming quarter materially above both Citi’s and the market’s forecasts, reinforcing confidence in sustained top-line momentum. Solid gross margins, a sizable new $10 billion share repurchase program, and resilient performance in both semiconductor and infrastructure software segments further support Malik’s positive view, even as he flags margin and customer concentration issues to watch on the earnings call.
In another report released today, TipRanks – OpenAI also reiterated a Buy rating on the stock with a $348.00 price target.
AVGO’s price has also changed slightly for the past six months – from $306.100 to $317.530, which is a 3.73% increase.