JPMorgan analyst Harlan Sur raised the firm’s price target on Broadcom (AVGO) to $250 from $210 and keeps an Overweight rating on the shares. The company delivered solid October quarter results on continued strong growth in its artificial intelligence semiconductor segment, which offset lower software revenue, the analyst tells investors in a research note. The firm increased forward estimates and says Broadcom remains its top pick in semiconductors.
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Read More on AVGO:
- Broadcom price target raised to $225 from $200 at Susquehanna
- Broadcom price target raised to $210 from $195 at Baird
- Broadcom price target raised to $250 from $200 at Piper Sandler
- Broadcom price target raised to $260 from $210 at KeyBanc
- Broadcom price target raised to $240 from $190 at Deutsche Bank
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