Analysts at Truist have upgraded their price target on Broadcom (AVGO) stock to $500, citing a “pretty low-drama” earnings beat and guidance raise. Despite acknowledging a potential gross margin drag, they prioritize the company’s strong EPS growth driven by AI advancements. The recommendation is for investors to buy the stock due to its promising “AI growth with duration”.
Source: https://www.tipranks.com/news/the-fly/broadcom-price-target-raised-to-500-from-365-at-truist-thefly