Broadcom: DA Davidson upgrades AVGO, says Anthropic S-1 shows AI cycle isn’t over

Investing.com -- DA Davidson upgraded Broadcom to Buy from Neutral and raised its price target for the stock to $400 from $350 in a note Tuesday, saying Anthropic's IPO filing suggests the AI cycle is not over yet. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » Analyst Gil Luria said his reading of Anthropic's S-1 leads him to believe the IPO will proceed and the company will raise its capital. He expects that to pave the way for OpenAI to raise more capital through its own IPO next year, allowing Broadcom to meet its expectations for the next couple of years.