Broadcom (AVGO) Sees Optimistic Price Target Increase from Citi

Citi analyst Christopher Danely has boosted his price target for Broadcom (AVGO, Financial) from $210 to $276, while maintaining a Buy rating on the stock. This adjustment comes as the company approaches its fiscal second-quarter earnings report scheduled for June 5. The analyst anticipates Broadcom’s performance to surpass market expectations, primarily due to the ongoing strength in its artificial intelligence segment. Despite the company’s non-AI semiconductor sector experiencing a…