JPMorgan raised the firm’s price target on Broadcom (AVGO) to $500 from $475 and keeps an Overweight rating on the shares. The stock in premarket trading is up 7% to $341.15. The company reported better than expected January quarter results and issued a solid revenue outlook for the April quarter, the analyst tells investors in a research note. The firm says Broadcom is seeing continued upside in its AI semiconductor segment. JPMorgan upped estimates post the earnings print.
Claim 55% 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: Strengthening AI Leadership and Earnings Power Create an Attractive Long‑Term Buy Opportunity
- Broadcom: Accelerating AI Growth and Robust Guidance Underpin Buy Rating Despite Concentration Risks
- Broadcom: AI-Driven Upside and High-Margin Networking Ramp Support Buy Rating Through 2030
- Broadcom: Expanding AI Infrastructure Roadmap Drives Upside and Supports Buy Rating
- Broadcom Stock (AVGO) Gains 5% as Strong Q1 Reinforces AI Boom — What Comes Next?