Goldman Sachs initiated coverage of Broadcom (AVGO) with a Buy rating and $315 price target The firm initiated the U.S. digital semiconductor and electronic design automation software group, saying it is most constructive on merchant silicon and EDA vendors tied to artificial intelligence related capital spending. The AI investment cycle is in a state of transition, but can sustain growth from current levels, the analyst tells investors in a research note.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVGO:
- “Fire on All Cylinders” Assessment from JPMorgan Proves Help Enough for Broadcom (NASDAQ:AVGO)
- Mixed options sentiment in Broadcom with shares up 1.33%
- Early notable gainers among liquid option names on July 9th
- Nvidia Stock Is Chasing a $4 Trillion Crown, And It’s Closer Than You Think
- Broadcom’s Strong Market Position and AI Growth Drive Buy Rating