AVGO Stock Price Forecast: What Wall Street Says About Broadcom's Future

Monday, 21 October 2024, 15:11

AVGO stock price projections are in focus as Wall Street experts re-evaluate Broadcom's market position and performance. With a substantial rise of 67.37% in 2024, analysts have adjusted their price targets, projecting further growth for Broadcom. Investors watch closely as Broadcom continues to thrive amid notable business developments and its role in the AI landscape.
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AVGO Stock Price Forecast: What Wall Street Says About Broadcom's Future

AVGO Stock Price Performance for 2024

As of October 21, Broadcom's stock (AVGO) has impressively surged 67.37% since the start of the year, sitting at $181.51. This upward momentum continued with a 1.01% rise noted early Monday.

Business Strategies Fueling Growth

Broadcom's recent success is attributed to its engagement with artificial intelligence and significant business maneuvers, including resolving its dispute with AT&T regarding software licenses following the VMware acquisition.

Analysts Adjust Price Targets

  • Cantor Fitzgerald increased its price target from $200 to $225.
  • Truist raised its forecast slightly from $204 to $205.
  • Mizuho Securities recommended a target hike from $190 to $220.
  • Bank of America upgraded its target to $215, applauding Broadcom’s AI efforts.

Consensus Price Target

The latest forecasts reflected a strong buy consensus, with AVGO expected to climb to $199.80 in the next 52 weeks. Analysts issued 23 buy recommendations with no sell ratings noted, signaling confidence in Broadcom's continued growth.

For comprehensive analyses and updates on AVGO stock, please follow our continued coverage.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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