Hock Tan, CEO of Broadcom.
Martin H. Simon | Bloomberg | Getty Images
Broadcom shares jumped 9% Monday after Citigroup resumed its coverage of the stock with a buy rating and updated its price target to $1,100. Shares closed at $1,029.24, its highest price in a year.
Citigroup said it resumed its coverage of the semiconductor and software company in a note to investors Monday morning, citing “strength in the core business and accretion from the VMware acquisition.” Broadcom bought VMware in…
