Broadcom has a pathway to "join the trillionaires club," Bank of America said as it reiterated a buy rating on the chipmaker Thursday.
The firm raised its price target to $2,000 per share from $1,680, a forecast that implies nearly 34% upside from Wednesday's $1,495.51 close.
Analyst Vivek Arya said Broadcom's steady semiconductor sales and its exposure to multiple secular product cycles could help it get there.
AVGO YTD mountain Broadcom stock.
On Thursday, Broadcom stock rallied more than 15% and touched a fresh 52-week high.
Persons:
Vivek Arya, it's, Arya
Organizations:
Broadcom, Bank of America, Microsoft, Apple, Nvidia, Wall