Morgan Stanley Raised the Firm’s PT on Broadcom Inc. (AVGO), Kept an Overweight Rating

Broadcom Inc. (NASDAQ:AVGO) is one of the Good Stocks to Invest in Now. On July 30, Joseph Moore from Morgan Stanley raised the firm’s price target on Broadcom Inc. (NASDAQ:AVGO) from $270 to $338, while keeping an overweight rating on the stock.

The bullish sentiment is based on the company’s position in the AI semiconductor market. The firm believes that the increased enthusiasm for AI semiconductors is justified by the long-term strength of Broadcom Inc.’s (NASDAQ:AVGO) business. Morgan Stanley sees the company as one of the most uncontroversial names in the AI market. The firm has also raised price targets for AI-linked semiconductor companies in its coverage.

Morgan Stanley Raised the Firm's PT on Broadcom Inc. (AVGO), Kept an Overweight Rating

A technician working at a magnified microscope, developing a new integrated circuit.

Broadcom Inc. (NASDAQ:AVGO) is an international technology company that designs and supplies a wide range of semiconductor chips.

While we acknowledge the potential of AVGO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AVGO and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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