Broadcom shares fall amid analyst price target cut and AI firm financial guarantee risk
AVGO Broadcom Inc
$346.63 -4.87%
View chart & analysis → - 1Mike Harrison, an analyst at Rothschild Co Redburn, lowered the price target for Broadcom from $595 to $398.
- 2Broadcom recorded a maximum decline of 7.3% on Friday.
- 3Broadcom provided a $63 billion financial guarantee to Anthropic.
So what's the key point?
An analyst lowered expectations for Broadcom's stock price to rise. The company's provision of a large guarantee to another firm impacted the stock price, causing it to fall by as much as 7.3%.
Source The Motley Fool +1 · View original ↗
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