Broadcom (AVGO) Initiated as Outperform With $420 Price Target Amid AI Growth

Broadcom Inc. (NASDAQ:AVGO) is one of the AI Stocks You Should Not Ignore. On September 15, Macquarie initiated the stock with an Outperform rating and $420 price target. The firm believes that Broadcom is well positioned for artificial intelligence. “We believe Broadcom should trade at a premium to industry peers with 1) strong growth outlook, 2) a strong ~34% dividend CAGR [compound annual growth rate] in recent years, and 3) long-term strategic planning supported by a unique management incentive plan” ...