KeyBanc Raises Broadcom Price Target to $575
KeyBanc analyst John Vinh raised the price target on Broadcom Limited (NASDAQ: AVGO) to $575.00 (from $500.00) while maintaining an Overweight rating.
“In-line Results and Higher Guidance; AVGO reported in-line F2Q (Apr) and guides F3Q (Jul) higher mostly driven by higher Infra SW, while guide for FY26 AI revs of $56B is in line, while FY27 AI revs of $100B+/10GW is maintained.
Ecosystem readiness (i.e., power shell)/supply chain constraints were blamed for maintaining its AI outlook. Ramp of MTK’s TPUs (Zebra/Humu Fish) are also likely limiting upside.
While disappointing, the ramp of 10GW deployments in FY27 is expected to be 2H weighted implying sig. growth in FY28; $100B appears conservative assuming $13B-$15B/GW.
As such, we’re raising ests and our PT to $575. Reit OW.”
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