Goldman Sachs Starts Broadcom Limited (AVGO) at Buy

Goldman Sachs analyst James Schneider initiates coverage on Broadcom Limited (NASDAQ: AVGO) with a Buy rating and a price target of $315.00.

The analyst comments: "Broadcom has a dominant franchise position across several segments of infrastructure software as a result of a long-term M&A strategy. We believe the company is likely to sustain its dominant position in enterprise networking silicon, and will continue to leverage this leadership to drive majority share in custom silicon processors for major US hyperscalers - which should drive AI to comprise over 40% of the company by 2026. At the same time, Broadcom continues to generate steady, growing profitability in its core infrastructure software business. We see the stock's premium valuation as justified by the greater visibility provided by its sole-sourced position at key silicon accounts and the mission-critical nature of its software portfolio."

For an analyst ratings summary and ratings history on Broadcom Limited click here. For more ratings news on Broadcom Limited click here.

Shares of Broadcom Limited closed at $277.90 yesterday.

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