DA Davidson Raises Price Target on Broadcom (AVGO)

Broadcom Inc. (NASDAQ:AVGO) is among the 11 best robotics stocks to buy right now.

On March 6, DA Davidson raised its price target on Broadcom Inc. (NASDAQ:AVGO) to $375 from $335 while maintaining a Neutral rating on the shares. The firm cited Broadcom’s first-quarter results, which beat consensus estimates by 0.1%, as a factor for setting a higher price target. Broadcom Inc. (NASDAQ:AVGO) attributed the performance to a compute-constrained environment that positions it favorably for the short to medium term. The semiconductor giant’s revenue surged 25% year-over-year to $68.3 billion, while maintaining an impressive gross profit margin of 77%.

DA Davidson noted that Broadcom Inc. (NASDAQ:AVGO) communicated a planned roadmap for a 2027 deployment of almost 10 gigawatts of compute, which the firm viewed as a testament to the company’s internal competencies and its position as the leading accelerator alternative to NVIDIA. The analyst also noted that the new price target is based on its projections of a 29-times CY2026 EPS estimate.

DA Davidson Raises Price Target on Broadcom (AVGO)

Broadcom Inc. (NASDAQ:AVGO) is a global technology company that designs, develops, and supplies semiconductors and infrastructure software solutions.

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