Broadcom’s (AVGO) latest earnings report has attracted the attention of Top Wall Street analysts. Several analysts raised their price targets and reiterated bullish ratings, arguing that the company’s position in custom AI chips (XPUs) and networking makes it one of the long-term winners of the AI infrastructure boom.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Bernstein: “AI Story Continues to Overdeliver”
Bernstein’s Stacy Rasgon lifted his price target to $475 (32% upside potential) from $400, maintaining a Buy rating. Even with the post‑earnings dip, Rasgon said investors miss the bigger picture that Broadcom’s AI business is not only outperforming expectations, but it’s accelerating.
Broadcom disclosed another $10 billion order from Anthropic (PC:ANTPQ), adding to the $10 billion booked last quarter, and revealed a fifth major AI customer with roughly $1 billion in initial orders.
Rasgon believes these will lead to more than $50 billion in AI revenue for FY26, well above the $40 billion outlook discussed just a quarter ago. “The AI bull case seems well intact,” he wrote.
Piper Sandler: “Blockbuster Results”
Piper Sandler’s Harsh Kumar also boosted his target, raising it to $430 (19.5% upside) from $375 while keeping a Buy rating. Kumar highlighted AVGO’s $73 billion AI backlog over the next 18 months, a level of visibility rarely seen in the semiconductor sector.
“We remain buyers of AVGO, especially on any weakness,” Kumar said, emphasizing that Broadcom’s gross‑margin dollars, not percentage margins, are the right metric for evaluating its XPU business.
Benchmark: “A Lot to Be Encouraged By”
Benchmark’s Cody Acree issued the most bullish target of the group, raising his estimate to $485 (34.8% upside) from $385 and reiterating a Buy rating. Acree noted that after a 120% gain over the past year, some profit‑taking by investors was expected, but the fundamentals remain strong.
Acree pointed to Broadcom’s role in Google’s Ironwood TPU expansion, which is now being deployed to customers like Apple (AAPL), Cohere (PC:COHER), and SSI.
Is Broadcom a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AVGO stock based on 27 Buys and two Holds assigned in the past three months. Further, the average Broadcom price target of $459.59 per share implies 27.43% upside potential.
