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Barchart
Barchart
Aanchal Sugandh

Broadcom Just Got a New Street-High Price Target. Should You Buy AVGO Stock Now?

Broadcom AVGO Redburn Atlantic

Broadcom (AVGO) recently received a vote of confidence from Redburn Atlantic, which initiated coverage of the stock with a “Buy” rating. The firm pointed to the company’s strong position in application-specific integrated circuits (ASICs) as a key driver of long-term growth. Analyst Mike Harrison set a price target of $301, a new Street high. 

The bullish call adds to recent optimism around Broadcom, with recent price target hikes from Melius Research and Mizuho. Broadcom’s fiscal first-quarter earnings showed a 25% jump in revenue year over year, with AI-related sales playing a growing role.

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