Bank of America Securities analyst Vivek Arya reiterated a Buy rating on Broadcom (AVGO – Research Report) yesterday and set a price target of $300.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Vivek Arya has given his Buy rating due to a combination of factors including Broadcom’s strong growth prospects in the AI sector. The company has revised its AI growth outlook significantly upwards, projecting a 60% year-over-year increase for the second half of fiscal year 2026, which is a substantial improvement from previous estimates. This growth is driven by enhanced deployments in computing for AI inference, positioning Broadcom favorably against its peers.
Furthermore, Broadcom’s strategic engagements with major hyperscale customers and its well-positioned networking portfolio are expected to meet the rising demands in AI clusters. Despite potential competition from NVIDIA, the overall growth in AI is anticipated to bolster Broadcom’s demand. Additionally, the company’s blend of capital appreciation and consistent dividend growth, along with its diverse product profile, makes it a top pick in the computing sector. Arya also highlights the potential for significant earnings per share growth if Broadcom achieves its AI sales targets.
In another report released today, Oppenheimer also reiterated a Buy rating on the stock with a $265.00 price target.
AVGO’s price has also changed dramatically for the past six months – from $170.470 to $259.930, which is a 52.48% increase.
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue