Jefferies Reiterates Buy Rating on AVGO, $550 Price Target

BlockBeats News, June 30th: Jefferies analyst Blayne Curtis reiterated a Buy rating on AVGO and set a $550 price target, noting that the recent stock price pullback has created a buying opportunity, with 2028 fiscal year EPS potentially reaching $30-40.

The analyst emphasized that Broadcom's TPU roadmap is progressing as planned, with a long-term agreement with Google until 2031 ensuring minimum revenue, while concerns about MTK's competition have been overemphasized.