Analysts boosted their price targets on Broadcom Inc. post Q1 FY22 results.
Baird analyst Tristan Gerra raised the price target on Broadcom from $690 to $700 (21 percent upside) and kept an Outperform.
The analyst said strong demand continues and will likely accelerate year-over-year this quarter, driven by enterprise IT, hyper-scale and cloud, switches upgrades in networking, storage network connectivity, next-generation PON, and DOCSYS in broadband.
Mizuho analyst Vijay Rakesh maintained Broadcom with a Buy and raised the price target from $665 to $700.
Keybanc analyst John Vinh maintained Broadcom with an Overweight and raised the price target from $710 to $720 (24.4 percent upside).
Rosenblatt analyst Hans Mosesmann maintained Broadcom with a Buy and raised the price target from $750 to $775 (34 percent upside).
Morgan Stanley analyst Joseph Moore maintained Broadcom with an Overweight and lowered the price target from $723 to $703 (21.5 percent upside).
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