Broadcom’s stock price target was raised by Rosenblatt analysts, resulting in an increase in the company’s shares. Analyst Hans Mosesmann increased the price target for AVGO stock to $2,400 per share, a 37.6% premium to the previous closing price and well above the consensus estimate of $1,706.37 per share. The analyst maintains a “buy” rating for AVGO shares, which aligns with the consensus rating based on 28 reviews.
Mosesmann is evaluating Broadcom as the company prepares for a 10-for-1 reverse stock split that will take effect after markets close on Friday. The analyst also sees potential in Broadcom’s ability to serve the AI market, which has performed well in 2024 and attracted investor attention.
While AVGO shares fell 2.2% on Thursday morning, they are still up 57.3% since the beginning of the year. Investors interested in the latest stock market news can find updates on Quantum Landscape, Advanced Micro Devices, and Costco’s actions for the day.
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https://investorplace.com/2024/07/rosenblatt-just-raised-its-price-target-on-broadcom-avgo-stock/