Benchmark Reiterates Buy on Broadcom, $485 Price Target

Benchmark analyst Cody Acree reiterated a Buy rating and $485.00 price target on Broadcom Limited (NASDAQ: AVGO).

“META & AVGO Extend AI Engagement to ’29; >1GW Deployment Increases Confidence in Exceeding Prior FY27 AI Tgt; Reiterate Buy & $485 PT.

Today’s announcement materially increases our confidence that Broadcom can exceed its prior target of significantly more than $100B of AI semiconductor revenue in FY27, as it adds formal duration and deployment visibility to one of the company’s largest custom XPU programs…That increased confidence builds on management’s last-quarter commentary that the custom XPU franchise now spans six customers, with further upside expected from Google’s next-generation TPU roadmap, Meta’s MTIA roadmap remaining “alive and well,” Anthropic ramping from 1GW this year to more than 3GW in 2027, and OpenAI expected to deploy its first-generation XPU in 2027 at more than 1GW of compute capacity.”

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