Broadcom price target raised to $500 from $450 at Rosenblatt

Rosenblatt raised the firm’s price target on Broadcom (AVGO) to $500 from $450 and keeps a Buy rating on the shares after an inline fiscal Q1 report along with Q2 revenue guidance that beat consensus by 10%. The “mic-drop moment” was CEO Hock Tan saying their FY27 visibility has dramatically improved and that the company has line of sight to achieve AI chip revenue in excess of $100B, the analyst tells investors.