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Broadcom price target raised to $250 from $210 at JPMorgan

Broadcom price target raised to $250 from $210 at JPMorgan

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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