Broadcom Shares Surge Past Analyst Target Price to $248.71
Broadcom Inc (Symbol: AVGO) shares recently traded at $248.71, exceeding the average 12-month analyst target price of $247.61. When a stock reaches the set target, analysts typically have two options: either downgrade due to valuation concerns or raise their target price based on improved fundamentals. The reaction may hinge on recent developments that may justify a price increase.
Within Zacks’ coverage universe, 28 analysts contributed to the average target for Broadcom. Some analysts have set targets lower than the average, with one predicting a price of $200.00. Conversely, the highest target reaches $301.00. The standard deviation across these estimates is $30.381.
The significance of the average target lies in collating diverse analyst insights, reflecting a broader consensus rather than a single opinion. With AVGO surpassing the average price target of $247.61/share, investors are prompted to reassess the company’s prospects: is this an interim price, or a signal to consider taking profits? The table below summarizes the current analyst ratings for Broadcom Inc:
| Recent AVGO Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 30 | 29 | 28 | 27 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 3 | 3 | 3 | 3 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.21 | 1.21 | 1.22 | 1.23 |
The average rating scale ranges from 1 (Strong Buy) to 5 (Strong Sell). This analysis incorporates data from Zacks Investment Research via Quandl.com.
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The views expressed here are those of the author and do not necessarily reflect those of Nasdaq, Inc.
