Broadcom price target raised to $440 from $400 at Rosenblatt

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.