Mizuho Broadcom · AVGO

Mizuho Raises Broadcom Price Target to $435

Analyst: Vijay Rakesh 1 min read Reproduced verbatim
Rating
Outperform
Target
$435
from $430 (+1%)
Outcome
Reached
on May 14, 2026
Mizuho and Broadcom logos

What the analyst said

Mizuho analyst Vijay Rakesh raised the price target on Broadcom Limited (NASDAQ: AVGO) to $435 (from $430) while maintaining an Outperform rating.

“AVGO – Anthropic to potentially be “customer #4” as OAI now “#5” and incremental with 2GW in 2025E.

We now believe Anthropic is AVGO’s fourth customer, ramping to $10B of revenue with “AI Racks” in 2HF26E (potentially negative for MRVL/Trainium).

The 10GW OAI partnership (Link) is incremental: AVGO’s fifth customer ramping 4QF26E as OAI is targeting ~2GW capacity buildout in 2026E, up ~2x y/y.

We see OAI ramping 2GW/3GW/4GW in 2026/27/28E respectively across GPUs/ASICs. We believe other major CSPs ramping 2-4GW over the next few years, notably below headline GW amounts.

AVGO also launched its third-gen CPO Tomahawk 6-Davisson with >70% lower power needs and 1M flap-free hours (we believe could need >5M flap-free hours for reliability).

AVGO also announced its new Thor Ultra 800G NIC with telemetry, load-balancing RoCE and open architecture, while also expanding its Jericho product line to support Scale Across.

Raising ests/PT to $435 as Anthropic adds additional tailwinds.”

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 $339. The 21 analysts who set a target in the last 3 months range from $400 to $630, with a median of $515. This $435 target is 16% below the median.

Since the note AVGO has moved −3% (from $349). The 12-month window closed on October 21, 2026.

Track record

This call✓ Target reached on May 14, 2026, 7 months 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 July 15, 2025 to April 17, 2026. The target went from $329 to $480 (+46%). The rating stayed Buy.

Mizuho targetAVGO share price
  1. April 17, 2026Target raised from $450 (+7%)Buy$480
  2. December 12, 2025Target raised from $435 (+3%)Buy$450
  3. October 21, 2025 This noteTarget raised from $430 (+1%)Buy$435
  4. October 13, 2025Target raised from $410 (+5%)Buy$430
  5. October 6, 2025Kept the $410 targetBuy$410
  6. September 11, 2025Target raised from $355 (+15%)Buy$410
  7. September 5, 2025Target raised from $329 (+8%)Buy$355
  8. July 15, 2025Earliest call shownBuy$329
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.