Barclays analyst Tom O’Malley raised the firm’s price target on Broadcom (AVGO) to $400 from $265 and keeps an Overweight rating on the shares following the earnings report. The company revealed $10B in sales next year from a fourth confirmed artificial intelligence customer, which is likely OpenAI, and CEO Hock Tan is staying through the end of the decade, the analyst tells investors in a research note.
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