Broadcom price target raised to $225 from $205 at Jefferies

Jefferies analyst Blayne Curtis raised the firm’s price target on Broadcom (AVGO) to $225 from $205 and keeps a Buy rating on the shares. The firm notes it had some concerns on the guidance heading into the print, but says that “in typical fashion,” the company was able to offset softer areas with strength elsewhere and guidance was “in line after all.” However, the “real story” is the headline of a potential $60-90B in AI revenue by FY27, the analyst tells investors. Broadcom has been communicating that customers are looking to deploy AI clusters for “some time,” but the confidence level “seems higher on this call,” which “should bring back interest in the name,” the analyst added.