Analysts raise AVGO price targets to $490-$500 citing AI-driven data center spending growth and semiconductor momentum.
UBS raised its price target on Broadcom Inc. (NASDAQ:AVGO) to $490 from $475 and maintained a Buy rating ahead of the company’s Q2 earnings report. The adjustment follows updated modeling and sector momentum expectations.
TD Cowen increased its AVGO price objective to $500 from $405, also keeping a Buy rating. The firm highlighted rising AI capital spending and a projected $1.3 trillion data center silicon market by 2030, up from $1.2 trillion. Analysts noted a bifurcation in infrastructure trades, with optical companies outperforming larger accelerators.
Broadcom operates in semiconductor solutions and infrastructure software, positioning it for growth in AI-driven demand. The revisions reflect broader optimism in compute semiconductor earnings.