Why Broadcom Stock Edged Higher on Friday

Chip company Broadcom (NASDAQ: AVGO) finished the trading week on a high, with its share price closing the day with a 1.5% gain. A price target raise from an analyst tracking the stock played a large part in that improvement. The company's rise essentially matched that of the S&P 500 (SNPINDEX: ^GSPC). That price target bump came from Piper Sandler's Harsh Kumar, who changed his fair-value assessment on Broadcom stock to $315 per share from the preceding $300. Kumar remains a Broadcom bull, as he maintained his overweight (i.e., buy) recommendation on the shares. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool