As reported earlier, BMO Capital analyst Ambrish Srivastava downgraded Broadcom (AVGO) to Market Perform from Outperform and slashed his price target to $230 from $345. The analyst points to its decision to acquire CA Technologies (CA), a company with half of its business in decline, being "so far out of the company's core competency and inconsistent with the company's recent messaging, that it raises more questions than answers". Srivastava adds that while Broadcom has a decent history of "acquiring underperforming semi assets, aggressively cutting costs, and integrating the acquisitions", he says it would be "presumptuous" to expect a repeat of that pattern in software given CA's declining mainframe business.

Barclays analyst Tom O'Malley raised the firm's price target on Broadcom (AVGO) to $1,500 from $1,405 and keeps an Overweight rating on the shares after hosting management for meetings. Broadcom is one of the unique companies that has a comprehensive view of the semis industry while also capable of providing an "intimate look" at the artificial intelligence market via custom silicon, the analyst tells investors in a research note. The firm says management highlighted the company's inroads with the consumer-facing AI world, providing a differing viewpoint versus Nvidia's (NVDA) vision of the world - pointing to a two-part market of consumer and enterprise that could grow to a 50/50 split over time. Barclays came away from the meetings "with a valuable second opinion on the future of AI and a greater appreciation for the company's many ways to win."

Barclays analyst Tom O'Malley raised the firm's price target on Broadcom to $1,500 from $1,405 and keeps an Overweight rating on the shares. The analyst increased the price after hosting management for meetings.