HSBC turns bullish on AVGO, multiple brokerages reaffirm buy ratings, potential for stock price increase.
🔴(-0.6%) short-term forecast
🟢(+1.2%) long-term forecast
Stock AI’s (AVGO) Forecast get (+27.9% Profit)
StockAI’s analysis delivers real-world results. On 17 January 2024, $AVGO ($1096.02), StockAI predicted a long-term 🟢 buy signal. It was accurate: 1 month later price increased to $1402.3 (🟢27.9%). Buying AVGO on this signal yielded a +27.9% profit 💰💰.
AVGO-Broadcom Inc. News
🟢 HSBC turns bullish on AMD shares, saying there won’t just be one winner in the market for AI GPUs.
🔴 Several brokerages have updated their recommendations and price targets on shares of Broadcom (NASDAQ: AVGO).
🟢 Broadcom Inc. (NASDAQ:AVGO) Director Kenneth Hao sold 9,160 shares of the business’s stock.
🔴 Broadcom Inc. (NASDAQ:AVGO) CFO Kirsten M. Spears sold 3,000 shares of the firm’s stock.
🟢 Vontobel Holding Ltd. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO).
🔴 Broadcom (NASDAQ:AVGO) was upgraded by investment analysts at TD Cowen from a “market perform” rating to an “outperform” rating.
Broadcom Inc. (AVGO) stock has seen a mix of positive and negative news recently. The bullish outlook from HSBC on AMD shares could potentially benefit Broadcom as well, given the interconnected nature of the semiconductor industry. However, the insider selling by the company’s Director and CFO may have raised some concerns among investors.
The updates from various brokerages on Broadcom’s recommendations and price targets indicate a level of confidence in the company’s future performance. The increase in position by Vontobel Holding Ltd. also signals positive sentiment towards the stock.
On the flip side, the insider selling activities by key executives could be seen as a red flag for some investors, leading to a slight decline in the stock price. Overall, the long-term forecast of a (+1.2%) increase suggests that despite the short-term fluctuations, Broadcom’s stock may continue on an upward trajectory.
AVGO-Broadcom Inc. Analyst Ratings
**Analyst Ratings Update for Broadcom Inc. (NASDAQ: AVGO)**
Analysts have been closely monitoring the performance of Broadcom Inc. stock, providing updated ratings and target prices based on their assessments of the company’s prospects.
📉 Deutsche Bank Aktiengesellschaft reaffirmed their “Buy” rating on Broadcom (NASDAQ: AVGO) stock with a price target of $1,500.00.
📈 Rosenblatt Securities reiterated their “Buy” rating on Broadcom (NASDAQ: AVGO) shares and maintained a target price of $1,500.00.
📈 Benchmark upgraded Broadcom (NASDAQ: AVGO) to an “Outperform” rating with a price target of $1,720.00.
Analyst ratings play a crucial role in guiding investors on their investment decisions, and these recent updates reflect the ongoing evaluation of Broadcom Inc.’s performance in the market.
**Sources:**
1. Deutsche Bank Aktiengesellschaft reaffirms Buy rating for Broadcom Inc. (NASDAQ: AVGO)
2. Rosenblatt Securities reiterates Buy rating on Broadcom Inc. (NASDAQ: AVGO)
3. Benchmark upgrades Broadcom (NASDAQ: AVGO) to an Outperform rating
Disclaimer
Investors may consider the AI predictions and news summaries as one factor in their investment decisions alongside their own research and risk tolerance.
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