Oppenheimer raised the firm’s price target on Broadcom (AVGO) to $325 from $305 and keeps an Outperform rating on the shares ahead of quarterly results. The firm sees upside to Q3 results and Q4 outlook. Growth continues to be led by AI compute/networking franchises. Oppenheimer notes Broadcom is the top maker of custom AI ASICs with seven announced projects led by Google (GOOG), Meta (META), and ByteDance USA.
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