Oppenheimer analyst Rick Schafer raised the firm’s price target on Broadcom (AVGO) to $435 from $400 and keeps an Outperform rating on the shares ahead of its Q4 earnings next week. The firm sees upside for results and outlook, led again by AI compute/networking franchises, the analyst tells investors in a research note. Oppenheimer adds that it expects next-gen Tomahawk6 volumes to ramp in the second half of next year, providing added growth and gross margin boost.
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