"Wall Street Boosts Broadcom's Outlook After AI Expansion and Cost Cuts"

TD Cowen upgraded Broadcom's rating from Market Perform to Outperform and raised its price target on the company from $1,400 to $1,500 per share, citing enthusiasm for the company's AI potential and positive feedback from its recent infrastructure event. The firm highlighted potential upside from custom silicon and back-end AI networking, while acknowledging risks related to data center spending and capital return program. Despite joining the bullish sentiment late, TD Cowen's upgrade comes as Broadcom's stock has already rallied significantly, with 80% of analysts covering it having buy equivalent ratings.