Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Bernstein initiated Nvidia (NVDA) with an Outperform and a $165 price target. 2. Cantor Fitzgerald initiated Thermo Fisher (TMO) with an Overweight rating and $194 price target. 3. Pacific Crest initiated IBM (IBM) with a Sector Weight rating. 4. Conduent (CNDT) initiated with a Market Perform rating and $18 price target at Cowen. 5. JMP Securities started coverage of Spring Bank Pharmaceuticals (SBPH) with a $20 price target and an Outperform rating. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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."