Evercore ISI raised the firm’s price target on Broadcom (AVGO) to $304 from $267 and keeps an Outperform rating on the shares, stating that the firm is “still buyers” of the shares after an in-line April-end quarter print and implied EPS outlook that is 1c below consensus. The “good news” is that its $5.1B July-end quarter outlook for AI revenue is above the firm’s original $4.9B forecast and “more importantly” the company expects its current AI revenue momentum to extend into FY26, says the analyst, who now models 58% growth in AI for FY25 and 50% in FY26.
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