Broadcom (AVGO) closed up 1.18% at $329.88, benefiting from strong semiconductor sentiment driven by AI outlook and cooler November CPI data. The positive movement was reinforced by a new Buy rating from UBS.
- The stock is navigating a post-earnings reset following its recent Q4 results, which included $18.02B in revenue and an EPS beat of $1.95, alongside a 10% dividend hike to $0.65 per share.
- UBS initiated a Buy rating with a price target of $475, aligning with the broader consensus target range of approximately $436 to $468.
- The stock continued its momentum, trading up 0.22% after hours at $330.60.