Broadcom shares gain attention as Citi lifts its price target ahead of fiscal second-quarter results on June 3.
Citi increased its price target for Broadcom (AVGO) as the company prepares to report fiscal second-quarter earnings on June 3. Analysts project modestly higher sales and earnings per share for both the April and July quarters compared to prior expectations.
Broadcom, a key player in software and semiconductors, last reported fiscal first-quarter results in March, beating consensus estimates. The upcoming earnings release will provide further insight into demand trends in its core markets, including AI and cloud infrastructure.
Shares of Broadcom have risen in pre-market trading following the price target adjustment, reflecting investor optimism ahead of the report.