TD Cowen Reiterates Buy on Broadcom, $500 Price Target

TD Cowen analyst Joshua Buchalter reiterated a Buy rating and $500.00 price target on Broadcom Limited (NASDAQ: AVGO).

“Limited Near-Term Upside & Reiterated F2027 Outlook Not Enough This Quarter; Reiterating past (admittedly significant) growth targets in a market environment clamoring for material beats and raises is likely to disappoint.

Based on GW-level math, we see upside to numbers in F2027+…but a seeming unwillingness to lean into that upside, gross margins moving lower, and some shifting commentary on key XPU projects likely weighs on the stock in the near-term.

Buy, $500 PT.”

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