Reported 8 months ago
Shares of Broadcom (NASDAQ: AVGO) surged 4.9% on Monday, driven by growing optimistic sentiment on Wall Street prior to its stock split, following the release of strong financial results and a surprising stock split announcement last week. Analysts raised their price targets, including Baird's $1,950 and Deutsche Bank's $1,900. The upcoming 10-for-1 stock split scheduled for the next month has also contributed to the excitement, as seen with Nvidia's recent split and subsequent price increases. Despite trading at 36 times forward earnings, investors are hopeful for Broadcom's future in the AI market.
Source: YAHOO