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Rosenblatt has just raised his price target for Broadcom (AVGO) stock

Rosenblatt has just raised his price target for Broadcom (AVGO) stock
Rosenblatt has just raised his price target for Broadcom (AVGO) stock

AVGO Stock – Rosenblatt just raised his price target for Broadcom (AVGO) stock

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Broadcom (NASDAQ:AVGO) shares are on the move on Thursday after analysts at Rosenblatt raised their price target for the stock.

Rosenblatt analyst Hans Mosesmann raised the firm’s price target on AVGO stock to $2,400 per share from $1,650 per share. That represents a 37.6% premium to the stock’s previous closing price. It is also well above the analysts’ consensus price estimate of $1,706.37 per share.

With this new price target, the Rosenblatt analyst maintains his buy recommendation for the AVGO share. This corresponds to the consensus recommendation of the analysts, which is based on 28 opinions.

What is behind AVGO stock coverage?

Mosesmann comments on Broadcom stock as the company prepares for a stock merger. The plan is for a 10-for-1 stock merger to take effect after the market closes on Friday.

In addition, the Rosenblatt analyst continues to believe in Braodcom’s potential to serve artificial intelligence (AI) market. This sector has performed well in 2024 and attracted additional attention from investors.

AVGO stock is down 2.2% since Thursday morning. However, shares are up 57.3% year-to-date.

Investors who want to learn more about the latest stock market news should read on!

We offer insights into all the important stock market news that traders need to know on Thursday! Some examples are the development of the shares of QuantumScape (NYSE:QS), modern micro devices (NASDAQ:AMD) And Costco (NASDAQ:COST) share today. You can read all about it under the following links!

More stock market news for Thursday

At the time of publication, William White had no position (either directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com Publishing guidelines.


Article printed by InvestorPlace Media, https://investorplace.com/2024/07/rosenblatt-just-raised-its-price-target-on-broadcom-avgo-stock/.

©2024 InvestorPlace Media, LLC

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