Broadcom (AVGO) Receives Buy Rating Amid AI Market Growth | AVGO

Seaport Research analyst Jay Goldberg has begun coverage of Broadcom (AVGO, Financial) with a positive outlook, assigning a Buy rating and setting a target price of $230. He highlights that Broadcom stands to gain significantly from the ongoing surge in AI-related investments. Goldberg believes that the company’s future potential is not fully recognized by the market or reflected in its current stock price.

The analyst points out that when Nvidia’s (NVDA) market share diminishes, it often…