Why Broadcom Stock Was a Winner on Wednesday

An analyst’s recommendation upgrade put some lively zip in Broadcom‘s (NASDAQ: AVGO) stock price on Wednesday. On news of the move, investors eagerly snapped up shares of the hardware and software company, sending its stock price more than 2% higher. That was a steeper climb than the S&P 500‘s (SNPINDEX: ^GSPC) 0.7% increase on the day.

Well before market open on Hump Day, Daiwa Securities’ Louis Miscioscia moved Broadcom up one notch, from outperform to buy. He also changed his price…