- Analysts boosted their price targets on Broadcom Inc (NASDAQ:AVGO) post Q1 FY22 results.
- Baird analyst Tristan Gerra raised the price target on Broadcom from $690 to $700 (21% upside) and kept an Outperform.
- The analyst said strong demand continues and will likely accelerate year-over-year this quarter, driven by enterprise IT, hyper-scale and cloud, switches upgrades in networking, storage network connectivity, next-generation PON, and DOCSYS in broadband.
- Mizuho analyst Vijay Rakesh maintained Broadcom with a Buy and raised the price target from $665 to $700.
- Keybanc analyst John Vinh maintained Broadcom with an Overweight and raised the price target from $710 to $720 (24.4% upside).
- Rosenblatt analyst Hans Mosesmann maintained Broadcom with a Buy and raised the price target from $750 to $775 (34% upside).
- Morgan Stanley analyst Joseph Moore maintained Broadcom with an Overweight and lowered the price target from $723 to $703 (21.5% upside).
- Price Action: AVGO shares traded higher by 2.83% at $595.00 in the premarket on the last check Friday.
