Broadcom Limited (AVGO) PT Raised to $1,700 at Wells Fargo

Wells Fargo analyst Aaron Rakers raised the price target on Broadcom Limited (NASDAQ: AVGO) to $1,700.00 (from $1,430.00) while maintaining a Equal Weight rating.

The analyst commented: "AVGO delivered solid AI-driven F2Q24 results; see shares as most notably reacting to: 1. upward AI semi guide to >$11B in FY24, 2. implied FY24 non-AI semi guide at -20% y/y (too conservative!), and 3. VMW progression - path to $4B/qtr rev by F4Q24. We increase our PT to $1,700/sh. (~25x our F2026 EPS est.)."

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