TipRanks(@TipRanks):🔼Broadcom $AVGO upgraded to Buy at DA Davidson after Anthropic S1 DA Davidson upgraded Broadcom to Buy from Neutral with a price target of $400, up from $350. The firm's reading of the Anthropic S1 leads it to believe the IPO will proceed, Anthropic will raise its capital, and next year OpenAI will raise more capital in its own IPO, allowing Broadcom to meet its expectations for the next couple of years, says the analyst, adding that it looks like the AI cycle "isn't over quite yet." Broadcom is trading as if the chances of that happening are "near zero," which creates significant upside if those deals both materialize, the analyst added.

2026.10.27 11:41

🔼Broadcom $AVGO upgraded to Buy at DA Davidson after Anthropic S1 DA Davidson upgraded Broadcom to Buy from Neutral with a price target of $400, up from $350. The firm's reading of the Anthropic S1 leads it to believe the IPO will proceed, Anthropic will raise its capital, and next year OpenAI will raise more capital in its own IPO, allowing Broadcom to meet its expectations for the next couple of years, says the analyst, adding that it looks like the AI cycle "isn't over quite yet." Broadcom is trading as if the chances of that happening are "near zero," which creates significant upside if those deals both materialize, the analyst added.