Seaport Research analyst Jay Goldberg initiated coverage of Broadcom (AVGO) with a Buy rating and $230 price target. Broadcom is one of the leading beneficiaries of the current AI spending boom, but its prospects are “not well understood by the Street and not priced into the stock,” the analyst argues. Any time Nvidia (NVDA) loses share today it is to hyperscalers’ internal chip designs and Broadcom is “poised to make a lot of money helping them bring those chips to production,” the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVGO:
- Wall Street a bit less bullish on Microsoft ahead of earnings
- QCOM, NVDA, or AVGO: Which Chip Stock Is the Best Pick, According to Wall Street Analysts?
- DA Davidson analysts hold an analyst/industry conference call
- Broadcom Stock (AVGO) Bashed as Chinese Rival DeepSeek is Primed to Unleash New AI Model
- Broadcom price target lowered to $215 from $260 at Barclays