AI Growth Fuels Bullish Outlook
UBS raised its price target for Broadcom Limited (AVGO, Financial) from $270 to $220 on Monday and reiterated a BUY rating. That upgrade reflects a rising confidence in Broadcom’s growth potential, in particular its ability to gain traction in custom compute and artificial intelligence (AI) networking.
Just over a year ago, Broadcom was valued at an incredible almost $1 trillion; it’s achieved a nearly 100% return YTD. InvestingPro says its shares are trading above Fair Value with positive earnings revisions from 20 analysts.
After Broadcom’s SAM deep dive and AI revenue potential, Broadcom hikes its price target. UBS also forecasts that the AI revenue will grow 20 percent next year and 40 percent in 2027, buoyed by SAM expansion,…
