Why Broadcom Stock Sank Today
(NASDAQ: AVGO) might be on the front line of the artificial intelligence (AI) revolution, but that enviable position wasn't reflected in its stock market performance on Monday. Investors traded out of the tech hardware specialist's shares following an analyst's price target cut. Although the share price decline wasn't drastic, Broadcom landed in negative territory, down 0.2%.
Before market open, RBC Capital's Srini Pajjuri reduced his fair value assessment of Broadcom stock to $340 per share. This wasn't far down from his previous level of $370. In making the change, Pajjuri maintained his sector perform (hold, in other words) recommendation on the company.
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Source Fool.com
Broadcom Ltd. Stock
€336.90
0.150%
With 82 Buy predictions and not a single Sell prediction Broadcom Ltd. is an absolute favorite of our community.
With a target price of 396 € there is a slightly positive potential of 17.54% for Broadcom Ltd. compared to the current price of 336.9 €.
