Citi Raises Broadcom Price Target to $1,350 Citing 10% EPS Gain
Citi lifted its 12-month price target on Broadcom to $1,350 from $1,200 and maintained a Buy rating ahead of first-quarter results calling for $10.25 in EPS, a 10% annual gain. The upgrade reflects projections of surging AI-driven data-center chip orders boosting Q1 revenue by 15%.
1. Price Target Increase
Citi boosted its 12-month price target on Broadcom by $150, raising it from $1,200 to $1,350, while reiterating a Buy rating on the shares.
2. Earnings Forecast
The firm forecasts first-quarter EPS of $10.25, up 10% year-over-year, expecting the results to beat Wall Street consensus as Broadcom reports results later this month.
3. AI-Driven Data-Center Growth
Citi analysts highlight accelerating demand for AI infrastructure chips, projecting a 15% jump in data-center revenue in Q1, driven by hyperscale customer upgrades.
4. Stock Implications
The price-target increase underscores optimism around Broadcom’s valuation heading into earnings, with analysts noting potential upside if the company confirms stronger-than-expected margins.