Truist raised the firm’s price target on Broadcom (AVGO) to $500 from $365 and keeps a Buy rating on the shares. The company posted what looks like a “pretty low-drama” earnings beat and guidance raise, and while the firm is cognizant of the gross margin drag, it sees Broadcom’s EPS as more important, the analyst tells investors in a research note. The firm recommends that investors buy the stock for its “AI growth with duration”.
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