Breaking News: Rosenblatt Raises Broadcom (NASDAQ: AVGO) Price Target to $2,400 Ahead of Stock Split
Rosenblatt has just raised its price target on Broadcom (NASDAQ: AVGO) to an impressive $2,400 from $1,650, setting a new Street target high for the stock. This bullish upgrade comes just in time before Broadcom's 10-for-1 stock split next week.
"We are rolling out FY26 estimates that support high-teens sales growth and $75 Non-GAAP EPS, driven by continued AI infrastructure networking/ASIC momentum and improved synergies in enterprise software," stated Rosenblatt, showcasing confidence in Broadcom's future performance.
Furthermore, the firm praised Broadcom's execution, highlighting its "remarkable 2x growth in switching (Tomahawk 5 and Jericho 3) and similar growth in PCIe switches and NICs." This positive outlook reflects the firm's belief in Broadcom's ability to capitalize on strong demand for AI-focused semiconductors.
Rosenblatt also emphasized Broadcom's competitive advantage in the AI landscape, pointing out its "open" standards approach compared to Nvidia (NASDAQ: NVDA)'s mixed model. While both companies are expected to thrive in the AI market, Broadcom's strategy has gained support from key industry players.
**Analysis:**
In this groundbreaking news, Rosenblatt has significantly raised the price target for Broadcom, projecting a bright future for the company. With a focus on AI infrastructure networking and ASIC momentum, Broadcom is expected to experience high sales growth in the upcoming years. The firm's commendation of Broadcom's execution and competitive advantage in the AI landscape further solidifies the company's position as a key player in the industry. Investors should take note of this positive outlook and consider the potential impact on their investment portfolios.