Piper Sandler Raises Broadcom Price Target to $375

Piper Sandler analyst Harsh Kumar raised the price target on Broadcom Limited (NASDAQ: AVGO) to $375 (from $315) while maintaining an Overweight rating.

“The Good News Just Kept Coming, Results and Guide Ahead of Estimates; The good news continued through AVGO’s earnings call as AI results and guidance represented strong Y/Y growth.

The company also noted that they have secured XPU orders from their 4th customer to the tune of roughly $10 billion, which will hit in the second half of FY2026.

We feel that within the AVGO hyperscaler customer base, XPUs now have a significant chance of becoming the dominant portion of the compute.

Networking was also very strong, but it appears that the growth going forward will be driven largely by XPUs.

Infrastructure software performed relatively well and management talked about addon services that could drive future growth.

Despite significant acceleration of XPUs, gross margins held up relatively well.

We are raising our numbers quite significantly for FY26 and introducing FY27, both of which could be material years for growth for AI. Reiterate our OW rating and raising price target to $375.”

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