Broadcom (AVGO) Target Jumped at Truist as AI Growth Story Stays Intact

Broadcom Inc. (NASDAQ:AVGO) is included among the 15 Best Blue-Chip Stocks with Growing Dividends.

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Truist lifted its price target on Broadcom Inc. (NASDAQ:AVGO) to $500 from $365 and kept a Buy rating on the stock. The firm said the latest quarter came in as a “pretty low-drama” earnings beat with higher guidance. While there is some awareness around pressure on gross margins, Truist made it clear that earnings power is the bigger story right now. The stock, in its view, still offers “AI growth with duration.”

Broadcom’s fiscal fourth quarter, which ended November 2, easily cleared expectations. Revenue reached a record $18.01 billion, up 28% from a year earlier. Adjusted EPS climbed 37% to $1.95.That performance topped consensus forecasts by a comfortable margin. Wall Street had been looking for $17.46 billion in revenue and adjusted EPS of $1.87.

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