Broadcom is set to report fourth-quarter earnings after the market closes on Thursday. Analysts have a highly optimistic view of the company’s stock, with all 12 tracked analysts rating it as “buy” or equivalent. The consensus price target is $193, about 8% higher than Monday’s closing price.
The experts predict Broadcom will post revenue of $14.06 billion, up 51% year-over-year, and net income of $3.53 billion. This represents a significant rebound from last quarter’s loss of $1.88 billion due to merger-related expenses. Last week, the company acquired VMware in November 2023.
Despite falling slightly on Monday, Broadcom shares have surged 60% in 2024. Thursday’s earnings report is expected to provide insight into the company’s future growth prospects and its ability to overcome challenges posed by recent acquisitions.
Source: https://www.investopedia.com/what-wall-street-analysts-think-of-broadcom-s-stock-ahead-of-earnings-8758387