Analysts Raise Broadcom’s Price Targets Amid Strong Stock Rally
Broadcom Inc. (AVGO, Financial), a leading semiconductor manufacturer, has been experiencing a banner year. Shares have rallied 8.5% over the past 30 days. Over the last six months, the stock has climbed 32%, marking a 62.7% increase year-to-date.
In July, Broadcom announced a $5 billion bond deal with JPMorgan, TD Bank, and Truist Securities to reduce debt from its $69 billion acquisition of VMware completed in November 2023. On October 2, the company issued additional notes to further manage its debt load.
As a result, Broadcom adjusted its long-term guidance, projecting earnings per share (EPS) of $6.50 for 2025, slightly up from the previous estimate of $6.47. This…
