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.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVGO:
- Broadcom price target raised to $265 from $215 at Barclays
- Broadcom Inc. Shines in AI, Faces Debt Challenges
- Nvidia Stock Won’t Make Millionaires From Here, Unless AI Demand Goes Parabolic
- U.S. payrolls rise 139,000, Broadcom reports Q2 beat: Morning Buzz
- Broadcom price target raised to $295 from $267 at Truist
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue