Barclays Broadcom · AVGO

Barclays Raises Broadcom Price Target to $400

Analyst: Tom O'Malley 1 min read Reproduced verbatim
Rating
Overweight
Target
$400
from $265 (+51%)
Outcome
Reached
on November 28, 2025
Barclays and Broadcom logos

What the analyst said

Barclays analyst Tom O’Malley raised the price target on Broadcom Limited (NASDAQ: AVGO) to $400 (from $265) while maintaining an Overweight rating.

“New ASIC customer coming in the 2H of FY26 (likely split $5B each in FQ3/FQ4).

Outside of the new customer, the core 3 ASIC customers are also doing better than expected and likely surpass the 60% Y/Y AI revenue target even before the new customer layers in.

Intra-quarter, we heard from the company that two potential customers were taping out chips through the end of this year with potential to go into production next year.

One is now confirmed, and we would flag the potential for a 5th to soon join the ranks.

Outside of ASICs, the company is currently short on EMLs (explains transceiver constraints) and is doubling capacity over the next 9 months.

The company is firing on all cylinders with clear line of sight for growth supported by significant backlog.”

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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.

Where the price stands

AVGO trades at $348. The 21 analysts who set a target in the last 3 months range from $400 to $630, with a median of $515. This $400 target is 22% below the median, the lowest on the Street.

Since the note AVGO has moved +14% (from $306). The 12-month window closed on September 5, 2026.

Track record

This call✓ Target reached on November 28, 2025, 3 months after the note.

Firm track recordBarclays: 83% of its 36 targets at least a year old were reached within 12 months (#15 of 21 firms); on Broadcom, 5 of 5. Accuracy ranking →

Barclays on Broadcom

Barclays price targets on Broadcom

6 calls from January 17, 2025 to September 3, 2026. The target went from $260 to $500 (+92%). The rating stayed Buy.

Barclays targetAVGO share price
  1. September 3, 2026Target raised from $450 (+11%)Buy$500
  2. October 14, 2025Target raised from $400 (+13%)Buy$450
  3. September 5, 2025 This noteTarget raised from $265 (+51%)Buy$400
  4. June 9, 2025Target raised from $215 (+23%)Buy$265
  5. April 22, 2025Target cut from $260 (−17%)Buy$215
  6. January 17, 2025Earliest call shownBuy$260
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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.