Jefferies Raises Broadcom Price Target to $550

Jefferies analyst Blayne Curtis raised the price target on Broadcom Limited (NASDAQ: AVGO) to $550.00 (from $500.00) while maintaining a Buy rating.

“Mixed print with July guidance falling short of expectations for a beat and F27 AI commentary limited to a reiteration of $100B+.

Overall GMs guided below, given the mix shift to ASICs and that likely continues as ASICs accelerate in the 2H.

That said, OMs should still improve as AI revenue accelerates, particularly as META and OAI begin to ramp next year.”

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