Broadcom (AVGO) Maintains Overweight Rating as AI Tailwinds Build

Broadcom Inc. (NASDAQ:AVGO) is one of the AI Stocks Investors Should Keep an Eye On. On July 30, Morgan Stanley reiterated the stock as “Overweight” and raised its price target to $338 per share from $270.

According to the firm, the rising enthusiasm for AI semis is “justified by long term strength in the business.” Based on this enthusiasm, it raised targets across the board among its AI-linked semiconductors coverage.

Broadcom (AVGO) Maintains Overweight Rating as AI Tailwinds Build

“We think that the increase in enthusiasm for AI semis is justified by long term strength in the business, and raise targets across the board — though some near term constraints remain. PTs higher across the board, stay OW NVDA AVGO ALAB.”

Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets.

While we acknowledge the risk and potential of AVGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AVGO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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