Why Broadcom Stock Beat the Market Today

Hardly for the first time in this "year of the chip stock" on the back of eager artificial intelligence (AI) adoption, Broadcom (NASDAQ: AVGO) was the subject of an analyst's price target raise on Thursday. This was compounded by the disappointment about a peer company's recent performance, resulting in some investors fleeing to Broadcom.Ultimately, Broadcom stock closed Thursday's trading session nearly 3% higher, easily trouncing the S&P 500 index's 0.3% increase.Thursday's Broadcom booster was Oppenheimer's Rick Schafer, who upped his fair value assessment on the company to $325 per share. That was a bit of distance up from his preceding $305. In making that change he maintained his outperform (buy, in other words) recommendation on the shares. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool