There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Broadcom Ltd (NASDAQ: AVGO) and Weibo (NASDAQ: WB) with bullish sentiments.
Broadcom Ltd (NASDAQ: AVGO)
Nomura analyst Romit Shah assigned a Buy rating to Broadcom Ltd (NASDAQ: AVGO) today and set a price target of $260. The company’s shares opened today at $238, close to its 52-week high of $241.29.
According to TipRanks.com, Shah is a 5-star analyst with an average return of 16.1% and a 63.7% success rate. Shah covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Applied Materials.
Currently, the analyst consensus on Broadcom Ltd is Strong Buy and the average price target is $251.06, representing a 5.5% upside.
In a report issued on May 2, J.P. Morgan also reiterated a Buy rating on the stock with a $260 price target.
Weibo (NASDAQ: WB)
In a report released today, Jialong Shi from Nomura assigned a Buy rating to Weibo (NASDAQ: WB), with a price target of $91. The company’s shares opened today at $77.75, close to its 52-week high of $79.70.
According to TipRanks.com, Shi is a 5-star analyst with an average return of 27.0% and a 88.6% success rate. Shi covers the Technology sector, focusing on stocks such as Perfect World Co, Alibaba Group, and NetEase Inc.
Currently, the analyst consensus on Weibo is Moderate Buy and the average price target is $82, representing a 5.5% upside.
In a report issued on May 11, Jefferies also reiterated a Buy rating on the stock with a $67 price target.
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