CFRA Lifts Broadcom Limited (AVGO) Price Target on Earnings Growth Prospects

Broadcom Inc. (NASDAQ:AVGO) is one of the best cybersecurity stocks to buy right now. On September 5, CFRA raised the stock’s price target to $380 from $340 while reiterating a ‘Buy’ rating.

The price target hikes come on the company achieving solid gross profit margins of 77.19% and robust revenue growth of 28.01%. The impressive financial metrics come from the company’s AI semiconductor business achieving accelerated growth amid a growing order base.

Existing customers, such as Alphabet, are placing higher orders, strengthening the revenue base. Likewise, the research firm has echoed that the addition of a key customer could push the company’s sales above the $10 billion mark.

Consequently, CFRA has adjusted its earnings estimates for the company. It now expects the company to generate $6.71 in earnings per share in 2025, up from the initial estimate of $6.65. It has also increased FY 2026 EPS to $9 from $8.13 and FY 2027 to $10.95 from $9.82.

Broadcom Inc. (NASDAQ:AVGO) offers cybersecurity solutions by leveraging the Symantec and Carbon Black portfolios. It provides comprehensive enterprise security solutions across endpoint, network, information, and email security for on-premises and cloud-based environments. Its products and services detect and block various threats, protect sensitive data, ensure business continuity, and enforce zero-trust security models.

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Disclosure: None. This article is originally published at Insider Monkey.