Piper Sandler Raises Broadcom Price Target to $300

Piper Sandler analyst Harsh Kumar raised the price target on Broadcom Limited (NASDAQ: AVGO) to $300 (from $250) while maintaining an Overweight rating.

“AVGO reported solid results for the April quarter with results and guidance that slightly exceeded expectations into the print.

Management comments centered around strong growth driven by XPUs where customers have been resilient with their spend and in some cases expanded their business with AVGO particularly around inference.

We note that AI semiconductors are expected to grow again in FYQ3 to ~$5.1B, up 60% Y/Y. Management also was clear that they expect their growth rate in this business to remain steady into 2026.

Notably, the company continues to execute well on the software side of the business and is largely done with its customer conversions to the VCF platform.

Overall, we continue to view AVGO positioned well to capitalize on AI spending trends in the future. Reiterate OW. PT to $300.”

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