Reported 6 months ago
Analyst firm, Melius Research, has initiated coverage on Broadcom (NASDAQ: AVGO) with a buy rating and a price target of $1,850, reflecting a 31% upside potential from the closing price on Wednesday. The firm considers Broadcom a promising AI stock due to its leadership in chip categories and potential growth from the recent VMware acquisition. Despite already experiencing gains in the AI sector, Broadcom's future outlook seems positive with expectations of significant adjusted earnings growth, which could further boost its stock value.
Source: YAHOO