10 AI Stocks Gaining Wall Street’s Attention

4. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 158

One of the most notable analyst calls on May 29 was for Broadcom Inc. Deutsche Bank reiterated the stock as “Buy,” stating that it’s bullish ahead of earnings next week. The stock remains a favorite idea for the bank. Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets.

“Overall, we continue to view AVGO as offering a unique combination of upside drivers with its AI business ramping in XPUs + Connectivity, its cyclical businesses slowly rebounding, and its Software business benefitting from VMW integration. As such, AVGO remains one of our favorite names in semis.”

Analysts on Wall Street currently have a consensus “Buy” rating on the stock. The average price target of $250 implies a 6% upside, however, the Street-high target of $301 implies an upside of 28%.