Deutsche Bank Raises Broadcom Price Target, Calls Post-Earnings Selloff a 'Buying Opportunity'

Deutsche Bank raised its price target for Broadcom to $515 from $430 on June 4. The bank maintained a "Buy" rating on the stock.

The analyst cited Broadcom's solid quarterly results. A strong outlook for artificial intelligence revenue also contributed to the increased confidence.

This upgrade followed a significant drop in Broadcom's share price. The company had reiterated, rather than raised, its long-term AI revenue goals.

Deutsche Bank described the selloff as a "buying opportunity." The bank views management's guidance as conservative. It projects AI revenues will ultimately exceed the company's targets.