Posted 3/21/2024, 7:56:46 PM
Broadcom Stock Up On Positive Analyst Update Highlighting AI and Custom Chip Upside
- Broadcom's shares trade higher after positive analyst update from TD Cowen
- Firm upgrades Broadcom from Market Perform to Outperform, lifts price target from $1,400 to $1,500
- TD Cowen cites potential upside from custom silicon and AI networking capabilities
- Notes risks if data center spending slows or capital return doesn't accelerate
- Broadcom stock already up 25% year-to-date, 120% over past 12 months