- Goldman Sachs analyst Toshiya Hari upgraded Broadcom Inc (NASDAQ:AVGO) to Buy from Neutral with a price target of $589, up from $527, implying an 18.4% upside.
- The analyst said the upgrade comes as the firm transitions to a more defensive posture within the context of its Semiconductor and Semiconductor Capital Equipment coverage universe.
- Hari added that he believes outsized exposure to cloud/enterprise/telecom spending, pricing power, and FCF generation will drive a relative re-rating in the stock.
- Also Read: Goldman Sachs Analyst Admits March Upgrade On Western Digital ‘Wrong Call,’ Downgrades This Time
- Price Action: AVGO shares traded higher by 1.55% at $505.30 in the premarket session on the last check Friday.
5 Stocks To Watch For December 28, 2021
Some of the stocks that may grab investor focus today are:
Wall Street expects Cal-Maine Foods, Inc. (NASDAQ: CALM) to report quarterly earnings at $0.27 per share on revenue of $390.20 million after the closing bell. Cal-Maine Foods shares gained 0.2% to $36.98 in after-hours trading.
