Broadcom’s AI Event Has Wall Street Excited. The Chip Stock Gets an Upgrade.

Broadcom artificial intelligence event left Wall Street feeling quite optimistic about the chip maker’s stock. On Thursday, TD Cowen analysts led by Matthew Ramsay upgraded shares of Broadcom to Outperform from Market Perform and lifted their price target to $1,500 from $1,400 after attending the company’s artificial intelligence event on Wednesday. Broadcom stock was up 2.9% to $1,312.44 in recent trading Thursday.