Broadcom price target raised to $2,000 from $1,650 at Piper Sandler

Piper Sandler analyst Harsh Kumar raised the firm’s price target on Broadcom to $2,000 from $1,650 and keeps an Overweight rating on the shares. The firm notes Broadcom reported April quarter results which exceeded expectations into the print. The stock is reacting positively after-hours on commentary around the sustained revenues coming from AI, VMware integration, and the announcement of a 10-for-1 stock split.