Broadcom Analysts Raise Their Forecasts After Strong Q2 Results
Portfolio Pulse from Lisa Levin
Broadcom Inc. (NASDAQ:AVGO) reported strong Q2 results, with revenue increasing 8% YoY to $8.73 billion, beating estimates of $8.71 billion. The company also expects Q3 revenue of approximately $8.85 billion. Following the earnings announcement, several analysts raised their price targets on Broadcom.
June 02, 2023 | 11:32 am
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Broadcom's strong Q2 results and positive Q3 revenue outlook led to several analysts raising their price targets on the stock.
Broadcom reported better-than-expected Q2 results and a positive Q3 revenue outlook, which is likely to boost investor confidence in the stock. As a result, several analysts raised their price targets, indicating a positive short-term impact on the stock price.
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