Wells Fargo raised the firm’s price target on Broadcom (AVGO) to $545 from $430 and keeps an Overweight rating on the shares. The firm lifted its fiscal year 2027 and fiscal year 2028 revenue and EPS estimates by 22% and 19%, and 28% and 23%, respectively, versus consensus, as its new pluggable GW-driven analysis implies AI semiconductor revenue running 30%-40% higher.
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:
- Bristol Gate Capital Boosts Broadcom Stake by 16,448 Shares
- ARK Investment’s Cathie Wood Boosts Broadcom Stake by 407,803 Shares
- Micron (MU) Stock Nearly Broke Down after $100B Wipeout. Then AI Memory Bulls Stepped In
- Broadcom sues EU antitrust regulators over request for documents, Reuters says
- Broadcom & AMD: Why BofA Names Them Top Semiconductor Picks