Piper Sandler Broadcom · AVGO

Piper Sandler Initiates Broadcom at Overweight, $460 Price Target

1 min read Reproduced verbatim
Rating
Overweight
New coverage
Target
$460
First target
Upside
+33%
AVGO at $345 today
Piper Sandler and Broadcom logos

What the analyst said

Piper Sandler analyst David O’Connor initiates coverage on Broadcom Limited (NASDAQ: AVGO) with an Overweight rating and a price target of $460.

“AVGO is the leader in ASIC chips (75% share) for AI inference, with most hyperscalers and AI Labs having an ASIC co-design relationship with them.

While Google TPU is the volume shipper today, and also being leveraged by Anthropic, the company is in ramp-up mode for Meta MTIA, OpenAI Jalapeño chips as well as two other customers.

Coupled to this, AVGO’s Networking attach rate is running at 30%, enabling $20-30B total content per GW.

The company has line of sight for 12GW of demand in FY27E, we estimate 23-30GW in FY28-29 and 38GW in FY30.

However, demand is 2x supply, so securing additional supply is key going forward. We estimate an EPS CAGR of ~51% to 2030.

The stock is the cheapest in our AI universe, and we set our FY28E P/E based PT to $460 using 14x multiple. Initiating at OW.”

Disclaimer
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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.

Where the price stands

AVGO trades at $345. The 21 analysts who set a target in the last 3 months range from $400 to $630, with a median of $515. This $460 target is 11% below the median.

Since the note AVGO has moved −5% (from $364). 12-month window: day 49 of 365, closes on September 10, 2027.

Track record

This callOpen: AVGO has not reached $460 yet. This 12-month target is scored on September 10, 2027.

Firm track recordPiper Sandler: 86% of its 29 targets at least a year old were reached within 12 months (#11 of 21 firms); on Broadcom, 4 of 4. Accuracy ranking →

Piper Sandler on Broadcom

Piper Sandler price targets on Broadcom

7 calls from February 21, 2025 to September 10, 2026. The target went from $250 to $460 (+84%). The rating stayed Buy.

Piper Sandler targetAVGO share price
  1. September 10, 2026 This noteTarget raised from $430 (+7%)Buy$460
  2. December 12, 2025Target raised from $375 (+15%)Buy$430
  3. September 5, 2025Target raised from $315 (+19%)Buy$375
  4. August 22, 2025Target raised from $300 (+5%)Buy$315
  5. June 6, 2025Target raised from $250 (+20%)Buy$300
  6. March 7, 2025Kept the $250 targetBuy$250
  7. February 21, 2025Earliest call shownBuy$250
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Other analysts on Broadcom

StoneXBuy Kept rating and price target Oct 27 $545maintained UBSBuy Kept rating and price target Oct 27 $470maintained RosenblattBuy Kept rating and price target Oct 27 $600maintained DA DavidsonBuy Upgraded, raised price target +14% Oct 27 $400from $350 KeyBancBuy Kept rating and price target Oct 27 $575maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.