Broadcom price target raised to $1,015 from $995 at Truist

Truist analyst William Stein raised the firm’s price target on Broadcom to $1,015 from $995 and keeps a Buy rating on the shares after its Q4 earnings beat and guidance. The quarter was highlighted by strong accretion from the VMWare acquisition and showed a better than expected growth outlook, the analyst tells investors in a research note. Truist adds that the company’s diversified semi and software franchises should deliver mid-single-digit sales growth through a cycle, and this could be potentially faster with Broadcom’s “newfound AI exposure”.