Mizuho Raises Broadcom Price Target to $310

Mizuho analyst Vijay Rakesh raised the price target on Broadcom Limited (NASDAQ: AVGO) to $310 (from $300) while maintaining an Outperform rating.

“AVGO reported in-line AprQ results and JulQ guidance at ~$15.8B (cons $15.7B) Key to note: 1) We believe AVGO sees ACCELERATING AI Inference demand in 2H26E driving AI semis revenue up >60% y/y in F26E, with upside as we noted in our DEEP DIVE (LINK), 2) AprQ AI rev ~$4.4B (CustomXPU ~$2.6B ramping at 3+4 prospects, while AI Networking at $1.8B with scale UP) while JulQ AI revs guided to $5.1B, up 16% q/q, 3) Tomahawk 6 launched enabling >100k XPU two-tier AI cluster at 200G/lane (link), 3) JulQ Broadband/Networking up q/q but Storage/Wireless/Industrial guided flattish q/q, and 4)Infra SW JulQ guided up ~1.6% q/q as VMWare has >87% (prior >70%) of largest 10k customers on subscription/VCF solutions.

With its industry-leading F25E GM/OM at ~79%/65% and FCF/year potentially growing to ~$31B in F25E, reiterate Outperform, raise ests and PT to $310 (prior: $300).”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.