Mizuho Raises Broadcom Price Target to $530

Mizuho analyst Vijay Rakesh raised the price target on Broadcom Limited (NASDAQ: AVGO) to $530.00 (from $480.00) while maintaining a Outperform rating.

“We would buy the pullback as AVGO reported in-line AprQ results and guided JulQ to $29.4B, up 33% q/q (above consensus $28.6B).

Key points: 1) JulQ AI revenue guided to $16B, up 48% q/q with visibility extending into 2028E, 2) XPU ramps strengthening with leading customers GOOGL, Anthropic, OpenAI, META, and others driving F27E AI revs >$100B (unchanged vs. prior) though we believe could have upside as new capacity is deployed, projecting >$110B, 3) AVGO continues to innovate the XPU roadmap, with future generation XPU potentially integrating CPU/SRAM with Panel Packaging, and 4) SW bookings strong as JulQ guided up 24% q/q with Agentic AI and VCF 9.1 traction.

Reiterate Outperform, Raise Ests/PT to $530 (prior $480), 25x C27E P/E, compelling vs peer avg. 26x, as AVGO remains the king of AI ASICs.”

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.