Oppenheimer analyst Rick Schafer raised the firm’s price target on Broadcom (AVGO) to $305 from $265 and keeps an Outperform rating on the shares. The firm increased targets in the semiconductor group as part of a Q2 preview. It sees a “beat and raise” setup for most companies driven by artificial intelligence exposure. Oppenheimer remains long-term bullish on the sector citing the critical role semis play in AI and the broader technology value chain.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVGO:
- Broadcom Stock (AVGO) Drops as it Says Adios to ‘Unique’ $1B Spanish Chip Plant
- Alecta Pensionsforsakring Boosts Stake in Broadcom Inc.
- Broadcom Repays Credit Facility with Senior Notes
- Here’s Why Goldman Sachs Says Buy Broadcom Stock (AVGO), But Is Cautious on Marvell
- Goldman Sachs Picks Nvidia (NVDA) and Broadcom (AVGO) as Top AI Stocks to Buy