BofA lowered the firm’s price target on Broadcom (AVGO) to $450 from $500 and keeps a Buy rating on the shares. After a “reassuring” earnings call, the firm is raising its FY26, FY27 and FY28 pro-forma EPS estimates by 2%, 16% and 37%, respectively, but trimming its price target to account for lower sector multiples, the analyst tells investors.
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