There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Broadcom (AVGO – Research Report) and Trade Desk (TTD – Research Report) with bullish sentiments.
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Broadcom (AVGO)
Citi analyst Christopher Danely reiterated a Buy rating on Broadcom today and set a price target of $220.00. The company’s shares closed last Friday at $224.31.
According to TipRanks.com, Danely is a 4-star analyst with an average return of 8.2% and a 57.5% success rate. Danely covers the Technology sector, focusing on stocks such as Advanced Micro Devices, GlobalFoundries Inc, and NXP Semiconductors.
Currently, the analyst consensus on Broadcom is a Strong Buy with an average price target of $235.40, representing a 3.6% upside. In a report issued on January 10, Mizuho Securities also maintained a Buy rating on the stock with a $260.00 price target.
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Trade Desk (TTD)
In a report released yesterday, Ygal Arounian from Citi maintained a Buy rating on Trade Desk, with a price target of $140.00. The company’s shares closed last Friday at $118.80.
According to TipRanks.com, Arounian is a 5-star analyst with an average return of 11.4% and a 51.8% success rate. Arounian covers the Technology sector, focusing on stocks such as Verisign, GoDaddy, and Bumble.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Trade Desk with a $137.44 average price target, implying a 15.3% upside from current levels. In a report issued on January 3, Wolfe Research also maintained a Buy rating on the stock with a $155.00 price target.
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