Broadcom, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Christopher Danely from Citi reiterated a Buy rating on the stock and has a $315.00 price target.
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Christopher Danely has given his Buy rating due to a combination of factors, primarily driven by Broadcom’s strong performance in the AI sector. The company is expected to surpass consensus estimates for its F3Q25 earnings, with AI sales contributing significantly to this growth. Broadcom’s AI business, which is projected to account for 30% of its fiscal 2025 sales, is seeing robust demand from major clients like Google and Meta, which are increasing their capital expenditures.
Despite some concerns about potential margin pressure from the AI segment, Danely believes that the recovery in Broadcom’s non-AI semiconductor business will help offset this. The analyst has raised revenue and earnings estimates for the upcoming fiscal years, reflecting confidence in continued growth driven by AI and wireless segments. Danely reiterates a Buy rating with a price target of $315, supported by the company’s potential for upside in AI sales and expansion across its peer group.
According to TipRanks, Danely is a 5-star analyst with an average return of 10.9% and a 64.23% success rate. Danely covers the Technology sector, focusing on stocks such as Microchip, Intel, and Advanced Micro Devices.
In another report released yesterday, UBS also maintained a Buy rating on the stock with a $345.00 price target.