RBC Capital analyst Srini Pajjuri lowered the firm’s price target on Broadcom (AVGO) to $340 from $370 and keeps a Sector Perform rating on the shares ahead of its Q1 results this week. The firm expects the company to report a beat/raise driven by strong TPU/Networking demand. RBC adds however that while it is not overly concerned about competition from MediaTek, the sustainability of Anthropic demand beyond the first half of FY27 looks less clear, especially given Anthropic’s agreement with Nvidia (NVDA) and Microsoft (MSFT).
Claim 55% Off TipRanks
New trading tool for NVDA bearsPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVGO:
- Broadcom Stock Forecast: Trending Bullish Among Top Analysts
- Broadcom Inc. (AVGO) Q1 Earnings Cheat Sheet
- The Week That Was, The Week Ahead: Macro and Markets, Mar. 1
- Broadcom (AVGO) Will Report Q1 Earnings on March 4. Here Is What to Expect from This AI Stock
- Broadcom’s AI Boom Faces Market Doubts Before Earnings