Broadcom Inc. (AVGO) shares hit a record high Wednesday 🦋for♊ the third straight day after analysts raised their price target on the stock.

Bank of America 澳洲幸运5开奖号码历史查询:securities analysts raised their price target on Wednesday to $1,250 from $1,200 following a virtual meeting with company executives. BofA Securities noted that the session with Chief Executive Officer (CEO) Hock Tan, Chief Financial Officer (CFO) Kirsten Spears, and Head of Investor Relations Ji Yoo underscored Broadcom’s focus on “extracting” cost synergies from its $61 billion acquisition of 澳洲幸运5开奖号码历史查询:cloud computing firm VMWare, its moves into 澳洲幸运5开奖号码历史查询:generative artificial intelligen🐬ce (AI), its stable non-AI legacy business, and strong 澳洲幸运5开奖号码历史查询:profit margin. 

The analysts said the company could offer a “rare combination” of compelling valuation and 澳洲幸运5开奖号码历史查询:free cash flow generation/returns. BofA added that the hig💟her price♋ target “reflects ongoing growth momentum.”

On Monday, Citi had also resumed coverage of Broadcom with a "buy" rating and said Broadcom's core business and purchase of VMWare gave it advantages. 

Broadcom shaඣres were up 2.2% at $1,095.84 per share as of about 2:45 p.m. ET Wednesday. They have nearly doubled in value this year.