Broadcom price target raised to $470 from $462 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the firm’s price target on Broadcom (AVGO) to $470 from $462 and keeps an Overweight rating on the shares after a “strong” quarter, with AI driving upside and improved long-term visibility. Margin concerns have eased, networking outperformed, and FY27 AI potential remains significant, adds the analyst, who sees further upside as ASIC programs scale.