Citi raised the firm’s price target on Broadcom (AVGO) to $480 from $415 and keeps a Buy rating on the shares. The company reported upside to estimates on continued artificial intelligence strength, the analyst tells investors in a research note. Citi says Anthropic was announced as Broadcom’s fourth artificial intelligence customer. The firm expects more AI customers and upside in the future.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVGO:
- Broadcom price target raised to $450 from $435 at Mizuho
- Broadcom price target raised to $430 from $375 at Piper Sandler
- Broadcom price target raised to $475 from $400 at JPMorgan
- Broadcom’s Strong AI-Driven Growth and Robust Financial Performance Earns ‘Buy’ Rating
- Broadcom’s Strong AI Growth and Market Expansion Justify Buy Rating