Syeda Seirut Javed
4 min read
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Broadcom Inc. (NASDAQ:AVGO) is one of the 10 stocks that Jim Cramer and analysts are watching. On June 9, Citi increased its price target on the company stock to $285 from $276 and maintained a Buy rating.
Citi believes that the company delivered mixed results, showing strong performance in AI but weaker margins due to product mix and rising options costs. The firm noted the margin outlook was lowered because of a greater semiconductor mix, as the company projects 60% annual AI growth in fiscal 2025 and 2026 from broader adoption. On the same day, Barclays analyst Tom O’Malley also raised the price target on Broadcom to $265 from $215 and maintained an Overweight rating.
A technician working at a magnified microscope, developing a new integrated circuit.
On June 9, Cramer discussed Broadcom (NASDAQ:AVGO) in detail and said:
“There’s nothing more frustrating than watching one of your favorite companies report a strong quarter only to see the market find some reason to send the stock lower, but in retrospect, these can be great buying opportunities. Just look at what happened to Broadcom last week… long-time Cramer fave, big holding in my Charitable Trust. But the stock sold off hard after the company reported on Thursday night…
