Evercore Broadcom · AVGO

Evercore ISI Raises Broadcom Price Target to $490

Analyst: Mark Lipacis 1 min read Reproduced verbatim
Rating
Outperform
Target
$490
from $403 (+22%)
Upside
+39%
AVGO at $352 today
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What the analyst said

Evercore ISI analyst Mark Lipacis raised the price target on Broadcom Limited (NASDAQ: AVGO) to $490 (from $403) while maintaining an Outperform rating.

“Buyers of Weakness.

We reiterate our O/P rating for AVGO after it printed OctQ Revs 3% above and raised JanQ revs by 4% with AI revs accelerating from +74% YY to +100% YY and mgmt highlighting visibility for AI revs to at least 2x in both FY26 and FY27.

We believe post-earnings offer an attractive entry point with shares lower by 5% AH considering implied 2027 P/E of 29x and 2026 PEG of 1.1x.

We increase our PT to $490 reflecting 40x our 2027 EPS of $13.36 discounted back.”

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 $352. The 21 analysts who set a target in the last 3 months range from $400 to $630, with a median of $515. This $490 target is 5% below the median.

Since the note AVGO has moved −13% (from $406). 12-month window: day 320 of 365, closes on December 12, 2026.

Track record

This callOpen: AVGO has not reached $490 yet. This 12-month target is scored on December 12, 2026.

Firm track recordEvercore: 100% of its 11 targets at least a year old were reached within 12 months; on Broadcom, 3 of 3. Accuracy ranking →

Earnings reactionOne of 20 notes after Broadcom’s Dec 11 results: 17 raised · 0 cut · 3 kept. See every call →

Evercore on Broadcom

Evercore price targets on Broadcom

6 calls from June 6, 2025 to September 3, 2026. The target went from $304 to $578 (+90%). The rating stayed Buy.

Evercore targetAVGO share price
  1. September 3, 2026Target cut from $582 (−1%)Buy$578
  2. June 4, 2026Target raised from $490 (+19%)Buy$582
  3. December 12, 2025 This noteTarget raised from $403 (+22%)Buy$490
  4. October 15, 2025Target raised from $342 (+18%)Buy$403
  5. September 4, 2025Target raised from $304 (+13%)Buy$342
  6. June 6, 2025Earliest call shownBuy$304
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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.