Despite providing investors with many impressive metrics, Broadcom (NASDAQ: AVGO) stock couldn’t get off the ground after the firm's latest earnings report. The day after earnings, Broadcom declined by 2.7%, a modest decline, but clearly not what many investors were hoping for.
Even with that disappointment, a key segment of the investment community continued to show strong support for Broadcom: Wall Street analysts. In aggregate, Broadcom saw its price targets move up after earnings. However, not all analysts viewed the report favorably, with multiple firms moving their targets down or lowering their ratings on the stock. Nonetheless, the analyst community still points to significant gains ahead for the chip giant, with many projecting the stock to move above its previous all-time high closing price.
