Why Broadcom Stock Topped the Market on Tuesday

On a generally downbeat Tuesday for the stock market, chipmaker Broadcom (NASDAQ: AVGO) managed to eke out a gain. The company's share price crawled 0.3% higher, due in no small part to an analyst price target hike, against the 0.7% decline of the S&P 500 index that trading session.Well before market open, prognosticator C.J. Muse of Cantor Fitzgerald made a double-digit raise to his Broadcom target. The new level is $350 per share, well up from the preceding $300. In making the change, Muse left his overweight (read: buy) recommendation unchanged. Not only that, he also maintained Broadcom as one of his company's top stock picks.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool