Broadcom (AVGO) Stock Sees Five Analysts Raise Price Targets in One Week

TLDR

• Citi increased its price target for Broadcom (AVGO) from $458 to $475, maintaining a Buy rating, and attributed the move to AI data center demand.
• JPMorgan boosted its target from $475 to $500, reiterating an Overweight rating, and cited robust business momentum.
• Argus raised its target from $375 to $425, also keeping a Buy rating.
• Rosenblatt established a $500 price target and emphasized CEO Hock Tan’s remarks about a potential path to over $100B in AI chip revenue by fiscal 2027.
• Baird made the most assertive adjustment, elevating its target from $420 to $630 with an Outperform rating, commending Broadcom’s ASIC technology.

(SeaPRwire) –   Broadcom (AVGO) received a series of analyst upgrades in early March, as five firms lifted their price targets within a short timeframe—each highlighting the company’s expanding position in meeting AI chip demand.

Broadcom Inc., AVGO

Citi initiated the activity on March 5th, increasing its target to $475 from $458 while reaffirming its Buy rating. The bank distinguished between leading and lagging companies in the semiconductor sector, placing firms like Broadcom that are linked to AI data centers on the favorable side, and those focused on personal computing chips on the other.

JPMorgan acted later that same day, raising its target more substantially to $500 from $475 and maintaining an Overweight rating. The bank identified strong business momentum and firm guidance for Broadcom’s April quarter as primary catalysts for the increase.

Argus also issued an update on March 5th, lifting its target to $425 from $375. While this was a more modest increase compared to others, it contributed to the overall optimistic sentiment surrounding the stock.

Rosenblatt Eyes $100 Billion AI Chip Revenue Path

Rosenblatt assigned a $500 price target, citing Broadcom’s fiscal first-quarter 2026 results, which met expectations. The analyst firm also observed that second-quarter revenue guidance surpassed the average analyst estimate by 10%.

A key point from Rosenblatt’s analysis was a statement from CEO Hock Tan, who indicated the company’s visibility for fiscal 2027 has significantly improved. Tan described a trajectory for AI chip revenue to surpass $100 billion—a figure that garnered considerable market interest.

Broadcom’s specialized AI chips, referred to as ASICs, are central to this narrative. Multiple hyperscalers and cloud providers have engaged Broadcom to create chips customized for their specific AI processing needs, moving away from standard GPU solutions.

Baird Makes the Boldest Call at $630

Baird executed the most notable adjustment of the group, hiking its price target dramatically to $630 from $420—a $210 increase. The firm sustained its Outperform rating and highlighted Broadcom’s ASIC design expertise and proven execution as key strengths.

Baird also noted that Anthropic rack installations are no longer anticipated to pressure XPU margins for Broadcom. This previous margin worry had been a drag on certain projections, so its elimination is viewed as a minor but tangible positive development.

The firm further indicated that strong networking deployment is a factor expected to enhance Broadcom’s product mix in the future.

Broadcom’ s Q1 fiscal 2026 earnings aligned with expectations, and the Q2 revenue outlook, which exceeded forecasts by 10%, provided analysts with renewed confidence to raise their estimates.

At the time of reporting, the stock was trading approximately 2% lower, declining despite the favorable analyst actions.