Rosenblatt analyst Kevin Cassidy raised the firm’s price target on Broadcom (AVGO) to $440 from $400 and keeps a Buy rating on the shares as part of an earnings preview. The firm expects Broadcom to beat estimates due to accelerating shipments of tensor processing units and additional traction with XPU. Broadcom’s networking business should also see revenue upside as the data center networks expand, the analyst tells investors in a research note.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVGO: