Cramer Sees Upside in Broadcom After 47% Gain, $430–$500 Targets
Jim Cramer said Broadcom should climb further after Google’s earnings call, citing its partnership strength and CEO Hock Tan’s competence. Shares have risen 47% over the past year but are down 4.4% year-to-date, with Wells Fargo upgrading to Overweight and raising its price target to $430, and Jefferies setting a $500 target.
1. Cramer’s Bullish Outlook
Jim Cramer highlighted Broadcom as a major beneficiary of Google’s increased data center spending, praising CEO Hock Tan’s execution and the company’s strength in AI semiconductor partnerships.
2. Share Performance Trends
Broadcom shares have climbed 47% over the past 12 months but are down 4.4% year-to-date, reflecting market rotation after earlier gains driven by semiconductors and software infrastructure demand.
3. Analyst Price Target Upgrades
Wells Fargo upgraded Broadcom to Overweight and raised its price target to $430, while Jefferies reiterated a Buy rating with a $500 target, citing growth in software infrastructure and custom package solutions.