- The shares of Broadcom Inc (NASDAQ: AVGO) have received a $657 price target from Truist. These are the details.
The shares of Broadcom Inc (NASDAQ: AVGO) have received a $657 price target from Truist. And Truist analyst William Stein is maintaining a “Buy” rating on the shares.
Stein had adjusted the rating as part of a broader research note on Semiconductors. And Stein cited hard evidence of a sudden negative shift in demand signals from a wide range of compute, consumer, and communications OEMs – which drove his recent 2023 models to contemplate negative growth and lower earnings multiples for the industry.
Plus Stein noted that while it is challenging to justify any downgrades, his conviction on Semis is now lower.
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