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Broadcom Continues Upside To AI: ‘Uniquely Positioned’ To Grow, Says Analyst After Q2 Results

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Broadcom Inc (NASDAQ:AVGO) shares were climbing on Thursday, after the company reported upbeat results for its fiscal second quarter.

The company reported its quarterly results amid an exciting earnings season. Here are some key analyst takeaways.

BofA Securities On Broadcom

Analyst Vivek Arya maintained a Buy rating while raising the price target from $1,680 to $2,000.

Broadcom reported a 4% beat on its quarterly sales and raised its full-year sales outlook by $1 billion to $51 billion, Arya said in a note. The company also announced a 10:1 stock split, he added.

The analyst named Broadcom as “a …

Full story available on Benzinga.com

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