Raymond James Raises Broadcom Price Target to $450

Raymond James analyst Simon Leopold raised the price target on Broadcom Limited (NASDAQ: AVGO) to $450.00 (from $428.00) while maintaining a Outperform rating.

“Outperform-rated Broadcom reported a solid F2Q26 (April) and guided above consensus.

Shares were down ~13% after hours, which we attribute to a lower gross margin forecast, slightly lower outlook for AI platform revenue in July and the 50% appreciation since the last report.

The positive surprise in the outlook came from the Software segment with a forecast for $8.9B vs. the Street’s $7.6B estimate. We presume investors would prefer to get the upside from AI-related sales.

Operating margins will trend higher as does FY27 AI prospects. We remain constructive, our estimates rise modestly, and our target goes to $450.”

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