Why Is Broadcom Stock Rising Today?
Portfolio Pulse from Ryan Gustafson
Broadcom Inc. (NASDAQ:AVGO) shares are rising after several analysts raised their price targets on the stock, ranging from $820 to $890. This comes ahead of Broadcom's Q2 earnings report on June 1, with expected earnings of $10.08 per share on quarterly revenue of $8.7 billion.
May 30, 2023 | 5:47 pm
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Broadcom's stock price is rising after multiple analysts raised their price targets, ahead of the company's Q2 earnings report on June 1.
The increase in price targets by multiple analysts indicates a positive outlook for Broadcom's stock. This, combined with the upcoming Q2 earnings report, is likely to have a short-term positive impact on the stock price.
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