Broadcom stock rose 5.4% due to market rebound despite Citigroup lowering price target

From Nasdaq: 2025-04-11 18:12:00

Broadcom (NASDAQ: AVGO) stock rebounded on Friday, rising 5.4% after a day of market sell-offs. The S&P 500 and Nasdaq Composite also climbed 1.8% and 2.1%, respectively. Despite recent gains, Broadcom stock is down 22% in 2025 and currently valued at 27 times this year’s earnings. Citigroup lowered its one-year price target on Broadcom from $220 to $210 per share, citing potential impacts of a U.S. recession and tariffs on China. However, Citi’s lead analyst maintained a buy rating on the stock.

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Read more at Nasdaq: Why Broadcom Stock Jumped Today