Mizuho Broadcom · AVGO

Mizuho Raises Broadcom Price Target to $355

Analyst: Vijay Rakesh 1 min read Reproduced verbatim
Rating
Outperform
Target
$355
from $320 (+11%)
Outcome
Reached
on September 10, 2025
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What the analyst said

Mizuho analyst Vijay Rakesh raised the price target on Broadcom Limited (NASDAQ: AVGO) to $355 (from $320) while maintaining an Outperform rating.

“AVGO reported in-line JulQ results and OctQ guide at ~$17.4B (cons $17.0B).

Key highlights: 1) Raised F26E AI revenue we est up 76% y/y (prior ~60%) as fourth XPU AI customer ramping to >$10B in F2H26E, potentially ACCELERATING into F27E;2) Overall $110B (12-mo) backlog with 40-50% Semis we estimate could imply >$35B XPU backlog; 3) JulQ AI rev ~$5.2B while OctQ guided to $6.2B, up 19% q/q with accelerating XPU ramps; 4) Scale-up with SUE, Tomahawk Ultra potentially ramping C26E with good latency, Ethernet ecosystem; and 5) Infra SW OctQ guided ~dn 1% q/q with move to VMCloud Foundation v9.0 (VCF9) for Enterprise containerized AI in private cloud.

We continue to see AVGO the clear winner in AI ASIC and networking roadmap as F25E GM/OM at ~77%/66% and FCF/year potentially growing to ~$29B in F25E, reiterate Outperform, raise ests and PT to $355 (prior: $320).”

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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 $352. The 21 analysts who set a target in the last 3 months range from $400 to $630, with a median of $515. This $355 target is 31% below the median, the lowest on the Street.

Since the note AVGO has moved +15% (from $306). The 12-month window closed on September 5, 2026.

Track record

This call✓ Target reached on September 10, 2025, 5 days after the note.

Firm track recordMizuho: 93% of its 60 targets at least a year old were reached within 12 months (#3 of 21 firms); on Broadcom, 11 of 11. Accuracy ranking →

Mizuho on Broadcom

Mizuho price targets on Broadcom

8 calls from May 27, 2025 to October 6, 2025. The target went from $300 to $410 (+37%). The rating stayed Buy.

Mizuho targetAVGO share price
  1. October 6, 2025Kept the $410 targetBuy$410
  2. September 11, 2025Target raised from $355 (+15%)Buy$410
  3. September 5, 2025 This noteTarget raised from $329 (+8%)Buy$355
  4. July 15, 2025Target raised from $315 (+4%)Buy$329
  5. July 9, 2025Kept the $315 targetBuy$315
  6. July 2, 2025Target raised from $310 (+2%)Buy$315
  7. June 6, 2025Target raised from $300 (+3%)Buy$310
  8. May 27, 2025Earliest call shownBuy$300
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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.