Cantor Fitzgerald Lowers Broadcom Price Target to $250

Cantor Fitzgerald analyst C.J.

Muse lowered the price target on Broadcom Limited (NASDAQ: AVGO) to $250 (from $300) while maintaining an Overweight rating.

“We had the pleasure of hosting an investor call with Broadcom’s leadership team on Wednesday afternoon (Hock Tan, CEO, Kirsten Spears, CFO, and Ji Yoo, Investor Relations).

Fundamentally, despite the macro uncertainty around tariffs and subsequent volatility in the marketplace, Broadcom’s business outlook is unchanged.

AI demand remains strong given the existential nature of AI investment for hyperscalers, the non-AI Semi biz has largely bottomed, and Software remains stable.

Broadcom remains a broadly diversified company with substantial pricing power, which will likely offset any headwinds from tariffs.

Given these attributes, we expect EPS estimates to be much stickier than other Semi cos if volatility persists.

Additionally, Mgmt clearly saw the stock as inexpensive earlier in the week, where it announced a $10B buyback on Monday (and something it sounds like they were able to take advantage of).

We maintain our Overweight rating and Broadcom remains a TOP PICK. We are tweaking our price target lower to $250 from $300, now based on ~27x our stretch CY26 EPS of ~$9.

We believe a lower multiple is appropriate given the current volatility in the market (but that is still 35% upside from today’s close).”

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