Wall Street Turns Even More Bullish on Broadcom Stock (AVGO) as AI Backlog Surges
Top Wall Street analysts have raised their price targets for Broadcom (AVGO) stock, citing its strong position in AI chips and networking. Bernstein's Stacy Rasgon increased the target to $475, Piper Sandler's Harsh Kumar to $430, and Benchmark's Cody Acree to $485, all maintaining Buy ratings. Broadcom's AI business is outperforming expectations, with significant orders from Anthropic and a $73 billion AI backlog. Analysts have a Strong Buy consensus, with an average price target of $459.59, indicating a 27.43% upside potential.