Broadcom Inc (NASDAQ:AVGO) shares tanked in early trading on Friday, even after the company on Thursday reported upbeat fiscal fourth-quarter earnings.
• Broadcom shares are retreating from recent levels. What’s behind AVGO decline?
Here are some key analyst takeaways:
- BofA Securities analyst Vivek Arya maintained a Buy rating, while raising the price target from $460 to $500.
- Goldman Sachs analyst James Schneider reiterated a Buy rating, while lifting the price target from $435 to $450.
- Benchmark analyst Cody Acree reaffirmed a Buy rating, while taking the price target higher from $385 to $485.
- Rosenblatt Securities analyst Kevin Cassidy reiterated a Buy rating, while raising price target from $440 to $450.
Check out other analyst stock ratings.
BofA Securities: Broadcom reported AI backlogs of $73 billion for the next six months, topping consensus of $69 billion, Arya said in the note. The company’s backlog and order visibility continue to increase, and management suggested $50-$100 …