HSBC Broadcom · AVGO

HSBC Maintains Buy on Broadcom, $535 Price Target

Analyst: Frank Lee 1 min read Reproduced verbatim
Rating
Buy
Unchanged
Target
$535
Unchanged
Upside
+52%
AVGO at $352 today
HSBC and Broadcom logos

What the analyst said

HSBC analyst Frank Lee reiterated a Buy rating and $535 price target on Broadcom Limited (NASDAQ: AVGO).

“Maintain Buy and target price of USD535: We keep our FY26-27e EPS estimates largely unchanged and introduce our FY28e estimates.

We maintain our target price of USD535 based on an unchanged target FY27e PE multiple of 32x applied to our FY27e EPS estimate of USD16.72 (unchanged).

With c32% upside to our target price from the current share price, we maintain our Buy rating as we remain bullish on Broadcom’s AI revenue opportunity.”

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 $535 target is 4% above the median.

Since the note AVGO has moved −13% (from $406). 12-month window: day 321 of 365, closes on December 12, 2026.

Track record

This callOpen: AVGO has not reached $535 yet. This 12-month target is scored on December 8, 2026. Same target as this firm’s December 8, 2025 note, so it is scored there.

Firm track recordHSBC: 59% of its 17 targets at least a year old were reached within 12 months (#21 of 21 firms); on Broadcom, 2 of 3. Accuracy ranking →

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

HSBC on Broadcom

HSBC price targets on Broadcom

6 calls from June 6, 2025 to June 2, 2026. The target went from $240 to $600 (+150%). The rating moved from Hold to Buy.

HSBC targetAVGO share price
  1. June 2, 2026Target raised from $535 (+12%)Buy$600
  2. December 12, 2025 This noteKept the $535 targetBuy$535
  3. December 8, 2025Target raised from $400 (+34%)Buy$535
  4. September 5, 2025Kept the $400 targetBuy$400
  5. June 24, 2025Upgraded to Buy, target raised from $240 (+67%)Buy$400
  6. June 6, 2025Earliest call shownHold$240
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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.