Broadcom price target raised to $430 from $375 at Piper Sandler

Piper Sandler analyst Harsh Kumar raised the firm’s price target on Broadcom (AVGO) to $430 from $375 and keeps an Overweight rating on the shares. The firm says the company continues to be “on a roll,” delivering blockbuster results and guide. In addition to beating expectations, Broadcom is seeing sizable growth in its AI business, primarily driven by XPUs but also by networking. The company expects its AI business to deliver $8.2B in the January 2026 quarter, up roughly 100% year-over-year. Piper remains a buyer of Broadcom, especially on any weakness, and believes that gross margin dollars is the right approach for the XPU business.