Broadcom price target raised to $225 from $200 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Broadcom to $225 from $200 and keeps an Overweight rating on the shares into Q3 earnings season. The firm sees a tale of two classes in semis, those levered to the traditional semi cycle, and those levered to the secular AI story, the analyst tells investors in a research note, adding that at the same time, the fundamental backdrop has deteriorated over the last three months, and the firm’s vision of an elongated cycle remains well intact. Broadcom is a favorite in AI, Cantor says.