Bernstein raised the firm’s price target on Broadcom (AVGO) to $525 from $475 and keeps an Outperform rating on the shares. The firm notes Broadcom’s Q1 was solid, with semis better and software slightly worse than expected. Q2 guidance was also very strong on a much better than expected AI outlook, Bernstein adds.
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Read More on AVGO:
- Broadcom price target lowered to $450 from $500 at BofA
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