By Danny Vena, CPA, The Motley Fool
Publication Date: 2026-05-14 16:07:00
Shares of Broadcom (NASDAQ: AVGO) charged sharply higher Thursday, climbing as much as 5.5%. As of 11:35 a.m. ET, the stock was still up 5.2%.
The catalyst that sent the semiconductor specialist higher was an increased price target and bullish commentary by a Wall Street analyst.
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An underappreciated opportunity
Wells Fargo analyst Aaron Rakers is enthusiastic about Broadcom, maintaining an overweight (buy) rating on the stock and raising his price target to $545 from $430. That increase came in response to the stock’s relentless rise, as it closed in on the analyst’s prior price target. The new benchmark represents potential upside for investors of 31% compared to Wednesday’s closing price.
The analyst…
