Broadcom (NASDAQ:AVGO) Shares Up 2.5% - Here's Why

Market Beat
2026.01.16 22:44
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Broadcom (NASDAQ:AVGO) shares rose 2.5% to $351.71 amid positive analyst sentiment regarding AI demand and institutional buying, notably from Cathie Wood’s ARK. KeyCorp raised its price target to $500, while Bernstein dismissed AI competition fears. However, concerns over a $4.5B debt issuance, insider selling, and geopolitical risks from China’s ban on Broadcom’s cybersecurity products have tempered investor sentiment. Analysts maintain a consensus 'Buy' rating with an average price target of $438.61, following strong quarterly earnings that exceeded expectations.