Quick Read
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Analysts at Jefferies reiterated a buy rating on AVGO, and named it as a top pick. The firm also raised its price target to $480 from $415.
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Loop Capital reiterated its buy rating on the tech giant and hiked its price target to $350 from $250.
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After testing all-time highs, the major indices are in the red this morning.
Dow futures are down 301 points. Nasdaq futures are down 344, as the S&P 500 sinks about 70 points. All thanks to a decline in Palantir’s overvalued shares, despite the company beating earnings estimates and offering solid guidance.
There are also concerns about the stretched valuations of other key AI stocks and their ability to boost profits to justify numbers.
Still, analysts are out with new upgrades.
Broadcom (NASDAQ: AVGO): Analysts at Jefferies reiterated a buy rating on AVGO and named it as a top pick. The firm also raised its price target to $480 from $415.
As noted by the analysts, “While NVDA remains the leader and we still see upside there, AVGO has a greater magnitude of estimate upside as Google, Meta, and OAI ASICs ramp,” as quoted by CNBC. “Google has long been the main ASIC customer for AVGO, but those volumes should become much more meaningful in C26/27.”
Nvidia (NASDAQ: NVDA): Loop Capital reiterated its buy rating on the tech giant and hiked its price target to $350 from $250. The firm believes NVDA can double its GPU shipments over the next year to 15 months to 2.1 million by the January 2026 quarter.
Goldman Sachs reiterated its buy rating on NVDA with a price target of $240 from $210 ahead of earnings, as well. The firm believes investor expectations have increased heading into NVDA earnings, thanks to multiple AI infrastructure announcements.
The firm also believes NVDA will provide a beat and raise quarter. Helping, Nvidia is up on news that Microsoft secured export licenses from the Trump Administration to ship NVDA chips to the United Arab Emirates.
CoreWeave (NASDAQ: CRWV): Analysts at Citi reiterated a buy rating on CRWV ahead of earnings, with a price target of $192 from $164. The firm pointed to rising AI demand as a CRWV tailwind.
“In the near term, we see CRWV as one of the larger AI beneficiaries across our coverage. With recent deals signed with NVDA, META, and an OpenAI expansion, we estimate ~85% QoQ backlog growth,” they said, as quoted by CNBC. “As Blackwell + customer ramps come online in 4Q, we expect a revenue reacceleration into year-end and outsized (~$100M+) revenue beats.”