Evercore ISI analyst C.J. Muse initiated Broadcom with an Outperform and "$300" price target saying shares are "too cheap to ignore." Muse believes estimates are largely de-risked enabling a year-over-year recovery in revenues for all of CY19 and sees catalysts from the June 6 report, potential for management to be aggressive with the recently announced $12B buyback program, investor recognition that Wireless is de-risked with rick to the upside, announcements of AI ASIC deployments, higher Cloud capex spending, and increased adoption of 400G port speeds, among others.

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.