Citi Adjusts Broadcom (AVGO) Price Target Amid Economic Concerns

Citi analyst Christopher Danely has revised the firm’s price target for Broadcom (AVGO, Financial), decreasing it from $220 to $210 while maintaining a Buy rating on the stock. This adjustment comes as the firm anticipates a potential recession, with the expectation that certain tariffs, notably those involving China, will persist for an extended period.

In light of previous economic downturns, Citi has analyzed multiples and earnings per share (EPS) compressions, concluding that valuations…