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Broadcom price target raised to $285 from $276 at Citi

Citi raised the firm’s price target on Broadcom (AVGO) to $285 from $276 and keeps a Buy rating on the shares. The company reported mixed results and guidance with continued artificial intelligence strength offset by lower margins due to mix and higher options expense, the analyst tells investors in a research note. The firm says margins were guided lower due to higher semiconductor mix as Broadcom expects its AI business to grow 60% year-over-year in fiscal 2025 and 2026 driven by increased AI adoption.

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