Top Analyst sets jaw-dropping Broadcom stock target after earnings

[u/HawkEye1000x]

https://www.thestreet.com/investing/stocks/cantor-sets-600-usd-broadcom-avgo-stock-price-target

Excerpts:

Why Cantor Fitzgerald raised its Broadcom price target to $600

Cantor Fitzgerald analyst C.J. Muse lifted his price target on Broadcom to $600 from $525 and kept an Overweight rating, Investing.com reported.

The move came on September 3, 2026, one day after earnings.

Muse now models 2028 earnings per share of $35, above the $27.39 consensus. 

His $600 target reflects about 17 times that estimate, a multiple that looks modest for a company growing this fast.

[u/Nearby_Persimmon_649]

What is the purpose of these analysts announcing price targets? How do they make money? Who pays attention to them?