By Danny Vena, CPA
Publication Date: 2026-05-14 15:47:00
Shares of Broadcom (AVGO +3.77%) charged sharply higher Thursday, climbing as much as 5.5%. As of 11:35 a.m. ET, the stock was still up 5.2%.
The catalyst that sent the semiconductor specialist higher was an increased price target and bullish commentary by a Wall Street analyst.
Image source: The Motley Fool.
An underappreciated opportunity
Wells Fargo analyst Aaron Rakers is enthusiastic about Broadcom, maintaining an overweight (buy) rating on the stock and raising his price target to $545 from $430. That increase came in response to the stock’s relentless rise, as it closed in on the analyst’s prior price target. The new benchmark represents potential upside for investors of 31% compared to Wednesday’s closing price.
The analyst noted that Broadcom’s stock price decline earlier this year ignored important upcoming catalysts, which fueled his bullish outlook. The biggest is the company’s deepening relationship with Alphabet.
I think the analyst is onto something. Broadcom is…
