Bernstein Broadcom · AVGO

Bernstein Keeps Outperform on Broadcom, $400 Price Target

Analyst: Stacy Rasgon 1 min read Reproduced verbatim
Rating
Outperform
Unchanged
Target
$400
Unchanged
Outcome
Reached
on November 28, 2025
Bernstein and Broadcom logos

What the analyst said

Bernstein SocGen Group analyst Stacy Rasgon reiterated an Outperform rating and $400 price target on Broadcom Limited (NASDAQ: AVGO).

“Takeaways from a (virtual) meeting with the CEO and CFO; Compute demand remains very strong, noting hathyperscalers/frontier LLM developers face exponentially growing need for compute and thus the recent deals between NVDA/ AMD/OpenAI are not surprising.

High confidence in achieving growth targets, with $90B 2030 target “easily” achievable just from AVGO’s currently four customers alone (and $120 plausible from them as well).

In the near term, Hock reiterated his confidence in the timing of $10B in OpenAI revenue in 3Q26 and noted that additional orders from them are highly likely.AVGO (OP, $400 PT): A strong 2025 AI trajectory seems set to accelerate into 2026, bolstered by software, cash deployment, and superb margins & FCF.”

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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 $345. 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 +3% (from $336). The 12-month window closed on October 8, 2026.

Track record

This call✓ Target reached on November 28, 2025, 3 months after the note. Same target as this firm’s September 5, 2025 note, so it is scored there.

Firm track recordBernstein: 80% of its 20 targets at least a year old were reached within 12 months (#16 of 21 firms); on Broadcom, 3 of 3. Accuracy ranking →

Bernstein on Broadcom

Bernstein price targets on Broadcom

8 calls from March 7, 2025 to April 15, 2026. The target went from $250 to $525 (+110%). The rating stayed Buy.

Bernstein targetAVGO share price
  1. April 15, 2026Kept the $525 targetBuy$525
  2. March 6, 2026Target raised from $475 (+11%)Buy$525
  3. December 12, 2025Target raised from $400 (+19%)Buy$475
  4. October 14, 2025Kept the $400 targetBuy$400
  5. October 8, 2025 This noteKept the $400 targetBuy$400
  6. September 5, 2025Target raised from $295 (+36%)Buy$400
  7. June 6, 2025Target raised from $250 (+18%)Buy$295
  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.