Citi analyst Christopher Danely raised the firm’s price target on Broadcom (AVGO) to $315 from $285 and keeps a Buy rating on the shares as part of a Q2 earnings preview for the semiconductor group.
The firm increased estimates, saying prior assumptions that tariffs would drive to a slowdown in the sector does not appear to be happening. Citi expects a sector upturn driven by solid demand and inventory replenishment.
The analyst sees the most upside in Microchip (MCHP) and Texas Instruments (TXN).