TD Cowen Raises Broadcom Price Target to $500

TD Cowen analyst Joshua Buchalter raised the price target on Broadcom Limited (NASDAQ: AVGO) to $500.00 (from $405.00) while maintaining a Buy rating.

“Positive on Broadcom (Buchalter, Buy) as we see the company positioned to meet or beat the 30% Q/Q growth bar for the July quarter, supported by ramping TPU and networking demand.

We think there could be upside to management’s prior >$100B C2027 AI semis outlook as program visibility and implied volumes point to meaningfully higher revenue contribution.

While execution against near-term expectations will be important, we believe management will reiterate confidence in scaling AI revenues beyond current targets, which is more important to the durable and broadening AI opportunity.

Trading at 23x our F2027 estimates, we believe risk/reward remains compelling here as well.”

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