Melius Research raises Broadcom's price target to $238 due to accelerating sales

From Yahoo Finance: 2025-05-29 14:48:00

Melius Research raised Broadcom Inc.’s (AVGO) price target from $198 to $238, citing accelerating sales despite a 70% surge in the past year.

Analysts believe Broadcom Inc. (AVGO) will benefit from its VMware acquisition and continue growing AI chip sales, with a 69.51% stock rise in a year.

Broadcom Inc. (AVGO) acquired VMware in 2023, boosting AI chip sales. Analysts expect a 43% CAGR for AI chips through 2027.

Melius Research sees more growth potential in Broadcom Inc. (AVGO) due to strong execution and revenue growth of 24.71% YoY in Q1 2025.

While AVGO is promising, other AI stocks may offer higher returns. Check out our report on the cheapest AI stock with 100x upside potential.



Read more at Yahoo Finance: Melius Research Lifts Broadcom (AVGO) PT, Keeps Buy Rating