Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Three separate Wall Street firms raised their price targets on AVGO in quick succession on Wednesday. Rosenblatt set the highest bar at $600, up from $500. BMO Capital moved to $575 from $455. Cantor Fitzgerald matched Rosenblatt at $600. All three kept Buy ratings. Broadcom carries a $1.75 trillion market cap and short sellers have minimal exposure at just 1.2% of free float.
The catalyst is Broadcom's AI chip momentum. The company has emerged as a top beneficiary of custom silicon demand from hyperscalers. Three coordinated target hikes in a single session is rare and signals rising analyst confidence ahead of the next earnings update.
On the other side of the ledger, Rothschild & Co downgraded MRNA to Sell from Hold. The new target is $81, well above the $40 prior target — but the direction of travel is bearish. Short interest in Moderna already sits at 13.5% of free float. That elevated short position suggests the market has been skeptical of the mRNA maker's post-pandemic growth story for some time.
California utilities also drew downgrades. PCG was cut by the consensus, with the average target falling to $19.91 from $20.59. SRE and EIX both saw target price reductions from the analyst community. Wildfire liability concerns continue to weigh on the sector.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
