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Barchart
Barchart
Mark R. Hake, CFA

Broadcom's Sell-Off Is Overdone - Based on its FCF Margins, AVGO Could Be Worth Double

AVGO Broadcom Barchart ITM Stock Analysis Yahoo Finance

The Broadcom Ltd. (AVGO) stock sell-off last week, following its June 3 Q2 earnings release showing strong FCF growth and higher FCF margins, is likely well overdone. My price target is now over 97% higher at $782 per share. This is based on analysts' revenue forecasts, its high FCF margins, and management's outlook.

AVGO closed at $396.60 on Monday, June 8, up 2.82%, after tanking last week. The stock hit a closing peak of $481.57 on June 2, right before its earnings release the next day. Then, after the market didn't think it met their expectations, it tanked to $385.73 by Friday, June 5.

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