UBS Lowers Broadcom Price Target to $485
UBS analyst Timothy Arcuri lowered the price target on Broadcom Limited (NASDAQ: AVGO) to $485.00 (from $490.00) while maintaining a Buy rating.
“Orders were very strong, but AVGO didn’t raise AI revenue for either F2026 or 2027 (disappointing especially when compared to peers) with the issue being mostly one of supply (back-end, we think).
Ultimately, there is not a ton here to sway our view materially in either direction as new agreements continue to expand custom ASIC engagements.
Net, we leave our F27/C27 AI revenue roughly unchanged at ~$135B/ $156B.
We raise C27 total revenue to ~$213B (from ~$205B) on stronger software, partially offset by modest margin pressure driving C27 EPS to $23.19 (vs. $23.84 prior).
PT moves to $485 (from $490).”
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