The Investor
13 Nov 2026, 15:56
Broadcom Falls 6.5% as Rothschild & Co Redburn Downgrades Stock to Neutral
Broadcom (NASDAQ: AVGO) shares fell about 6.5% after Rothschild & Co Redburn downgraded the semiconductor and infrastructure software company to Neutral from Buy.
Analyst Mike Harrison also cut the price target to $398 from $595, a substantial reduction that signals a more cautious view on Broadcom’s valuation and near-term upside.
The revised $398 target remains above the stock price of about $340.54 shown at the time of the rating change, but the downgrade removes the firm’s prior bullish recommendation.
The 6.5% decline appears to reflect investor reaction to both the rating downgrade and the sharp reduction in the price target, particularly given Broadcom’s elevated valuation following strong AI-related gains.
Broadcom (NASDAQ: AVGO) shares fell about 6.5% after Rothschild & Co Redburn downgraded the semiconductor and infrastructure software company to Neutral from Buy.
Analyst Mike Harrison also cut the price target to $398 from $595, a substantial reduction that signals a more cautious view on Broadcom’s valuation and near-term upside.
The revised $398 target remains above the stock price of about $340.54 shown at the time of the rating change, but the downgrade removes the firm’s prior bullish recommendation.
The 6.5% decline appears to reflect investor reaction to both the rating downgrade and the sharp reduction in the price target, particularly given Broadcom’s elevated valuation following strong AI-related gains.
