DA Davidson Initiates Broadcom at Neutral, $335 Price Target

DA Davidson analyst Gil Luria initiates coverage on Broadcom Limited (NASDAQ: AVGO) with a Neutral rating and a price target of $335.00.

“The relevance of the AI ASIC has grown increasingly more important as labs/hyperscalers pursue more workload-specific accelerators.

And while we respect the role of design partners in bringing these programs to volume, we see a potential path for the largest of customers to internalize more of the stack in the next few years, pressuring supplier economics.

Under this assumption, we do not believe Broadcom’s AI ASIC exposure warrants a premium multiple versus market leaders such as NVIDIA, and initiate coverage with a NEUTRAL rating and $335 price target.”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.