Truist raises AVGO price target to $510 amid AI margin concerns and recovery

Truist raised its price target for Broadcom (AVGO) to $510 (from $500) and reiterated its Buy rating, signaling confidence despite recent share volatility driven by AI mix-driven margin pressure.

• Shares are currently trading down approximately 20% from their early-December peak following concerns over AI mix-driven margin pressure post-strong Q4 earnings.
• AVGO closed at $334.11, marking a +1.28% gain following a broader market rebound.
• The current consensus price target stands at approximately $436, implying a potential upside of ~32%.