Mizuho Broadcom · AVGO

Mizuho Reiterates Outperform on Broadcom, $315 Price Target

Analyst: Vijay Rakesh 1 min read Reproduced verbatim
Rating
Outperform
Unchanged
Target
$315
Downside
−9%
AVGO at $347 today
Mizuho and Broadcom logos

What the analyst said

Mizuho analyst Vijay Rakesh reiterated an Outperform rating and $315 price target on Broadcom Limited (NASDAQ: AVGO).

“We hosted AVGO CEO Hock Tan, CFO Kirsten Spears and IR Ji Yoo on an investor call.

Key takeaways: 1) Custom ASIC/XPU mix of AI Accelerator market is ramping from ~40% in C25E to ~50% in C26E and 60% in C27E; 2) Scale up deployments at small % today of AI networking mix, but ramping to 20%+ in C26E in GPUs and Custom ASIC and Tomahawk6 enabling >100k XPU two-tier AI clusters at 200G/lane (link); 3) SUE driving similar performance vs.

NVLink; and 4) Custom ASIC/XPUs focused on training, but customers looking to ramp AI inference/external workloads as XPU ramps also drive EBITDA/OM.

We continue to see AVGO driving Custom ASIC/Networking ScaleUp/Out upside.

With industry-leading F26E GM/OM at ~77%/66% and FCF/year potentially growing to ~$39B in F26E, Reiterate Outperform; no change to estimates or $315 PT.”

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Where the price stands

AVGO trades at $347. The 21 analysts who set a target in the last 3 months range from $400 to $630, with a median of $515. This $315 target is 39% below the median, the lowest on the Street.

Since the note AVGO has moved +28% (from $272). The 12-month window closed on July 9, 2026.

Track record

Firm track recordMizuho: 93% of its 41 targets at least a year old were reached within 12 months (#3 of 14 firms). Accuracy ranking →

Mizuho on Broadcom

Mizuho price targets on Broadcom

8 calls from March 7, 2025 to September 5, 2025. The target went from $250 to $355 (+42%). The rating stayed Buy.

Mizuho targetAVGO share price
  1. September 5, 2025Target raised from $329 (+8%)Buy$355
  2. July 15, 2025Target raised from $315 (+4%)Buy$329
  3. July 9, 2025 This noteKept the $315 targetBuy$315
  4. July 2, 2025Target raised from $310 (+2%)Buy$315
  5. June 6, 2025Target raised from $300 (+3%)Buy$310
  6. May 27, 2025Target raised from $250 (+20%)Buy$300
  7. May 16, 2025Kept the $250 targetBuy$250
  8. March 7, 2025Earliest call shownBuy$250
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Other analysts on Broadcom

StoneXBuy Kept rating and price target Oct 27 $545maintained UBSBuy Kept rating and price target Oct 27 $470maintained RosenblattBuy Kept rating and price target Oct 27 $600maintained DA DavidsonBuy Upgraded, raised price target +14% Oct 27 $400from $350 KeyBancBuy Kept rating and price target Oct 27 $575maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.