Why Broadcom Stock Was Up 4% Today
Shares of semiconductor design giant Broadcom (NASDAQ: AVGO) were up 4% today at market close, pushing the stock to new all-time highs as the market overall was digesting early research that the omicron coronavirus variant will perhaps be less severe than the delta variant.
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But that's not the whole story for Broadcom. Credit Suisse analyst John Pitzer maintained an outperform rating on the stock, but raised the one-year price target to $620 (previously $580) -- implying a 5% increase from current trading levels.
Source Fool.com