Mizuho Broadcom · AVGO

Mizuho Raises Broadcom Price Target to $410

Analyst: Vijay Rakesh 1 min read Reproduced verbatim
Rating
Outperform
Target
$410
from $355 (+15%)
Outcome
Reached
on December 10, 2025
Mizuho and Broadcom logos

What the analyst said

Mizuho analyst Vijay Rakesh raised the price target on Broadcom Limited (NASDAQ: AVGO) to $410 (from $355) while maintaining an Outperform rating.

“Post a strong earnings report and increased F26E AI revenue outlook, we continue to see upside in F26/F27/F28 (Oct) to the drivers of its AI portfolio and ScaleOut/Up Opportunity.

We see: 1) CY26E+ AVGO ASIC ramp growing ~95% y/y and broadening out to OpenAI/ ARM/AAPL, driving XPU ASP up ~40-200%/generation as complexity grows; 2) TCO a priority with AI inference as Hypercalers/CSP drive Custom ASIC/Networking ScaleUp/ Out (Deep Dive), 3) Tomahawk Ultra SUE and SUE-lite positioned to drive expanding Ethernet as ScaleUp takes shape over next 2-3 years.

Raise our AI rev F26E to $39B (from $35B, cons $39B), F27E to $60B (from $45B, cons $57B), and F28E at $75B (cons. ~ $62B).

Reiterate Outperform; raising estimates/PT to $410 (from $355), ~40.8x C26E P/E with AI UPSIDE with CEO Hock Tan’s pay package tied to ~$90-120B+ AI revenue by 2030E, and AI growth potentially ACCELERATING in C27E+.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

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 $344. The 21 analysts who set a target in the last 3 months range from $400 to $630, with a median of $515. This $410 target is 20% below the median.

Since the note AVGO has moved −7% (from $370). The 12-month window closed on September 11, 2026.

Track record

This call✓ Target reached on December 10, 2025, 3 months after the note.

Firm track recordMizuho: 93% of its 61 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 June 6, 2025 to October 13, 2025. The target went from $310 to $430 (+39%). The rating stayed Buy.

Mizuho targetAVGO share price
  1. October 13, 2025Target raised from $410 (+5%)Buy$430
  2. October 6, 2025Kept the $410 targetBuy$410
  3. September 11, 2025 This noteTarget raised from $355 (+15%)Buy$410
  4. September 5, 2025Target raised from $329 (+8%)Buy$355
  5. July 15, 2025Target raised from $315 (+4%)Buy$329
  6. July 9, 2025Kept the $315 targetBuy$315
  7. July 2, 2025Target raised from $310 (+2%)Buy$315
  8. June 6, 2025Earliest call shownBuy$310
Share

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
Share on
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.