Rosenblatt Rates Broadcom (AVGO) Buy, $600 Price Target
Key Points
- Rosenblatt maintained its Buy rating on Broadcom with a price target of $600, unchanged from its prior target.
- Rosenblatt's $600 price target implies 75.21% upside from Broadcom Inc.'s ($AVGO) current $342.45 share price.
- The stock closed at $340.87 on October 27, 2026, while recently trading around $342.45, which is about 0.5% above the close.
- DA Davidson upgraded Broadcom to Buy on the same day, raising its target from $350 to $400.
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On October 27, 2026, Rosenblatt reiterated its Buy rating on Broadcom Inc. (AVGO) and set a price target of $600. This reflects the firm’s confidence in the company’s future performance. The information comes from Rosenblatt's research note published on the same day.
Rosenblatt's stance aligns with the broader Wall Street sentiment, as DA Davidson also upgraded Broadcom to a Buy rating on the same day, increasing its price target to $400 from $350. This suggests a positive outlook for Broadcom among analysts, with multiple firms showing confidence in its potential.
AVGO
Broadcom Inc.
Rosenblatt vs. the S&P 500
Hypothetical returns from Rosenblatt's disclosed trades, not real profit or advice. How we model this.
Other Institutional Activity in Broadcom Inc.
Several other institutional investors have recently adjusted their positions in Broadcom. UniSuper Management increased its holdings by 47,938 shares, bringing its total to 1,612,819 shares valued at about $566.4 million. Simon Quick Advisors added 4,828 shares, ending with 26,623 shares worth approximately $9.3 million. In contrast, Alta Capital Management reduced its stake by 22,203 shares, leaving it with 189,404 shares valued at around $66.5 million.
Broadcom Inc. Stock Up 6.5%
Broadcom shares closed at $340.87 on October 27, 2026, and recently traded around $342.45, which is about 0.5% above the closing price. However, the stock is about 30.8% below its 52-week high of $495.00. The shares are also trading below their 50-day and 200-day moving averages, by 3.7% and 6.9% respectively, indicating a potential area of concern for investors.
$AVGO price target
Broadcom Inc. daily closes and this analyst's $600 target. Not advice.
Recent Earnings
Broadcom reported trailing twelve-month revenue of approximately $89.1 billion with a year-over-year revenue growth of 85.5%. The company's earnings per share (EPS) for the same period was $7.83, reflecting a robust net margin of 42.9%. The next earnings report is scheduled for December 9, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
14 target raises vs 1 cuts.
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EPS & revenue
EPS met estimates. Revenue missed estimates by 2.3%.
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Profit surprise
EBITDA missed by 14 percent. Operating income missed by 28 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
1 downgrade, 14 target raises, 1 target cut.
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Earnings quality
Gross margin down 0.7 points. Operating margin up 10.1 points. Positive free cash flow.
Earnings Call Summary
Broadcom reported record quarterly revenue of $22.2 billion, up 48 percent from last year, driven by massive AI chip demand. AI chip sales alone hit $10.8 billion, up 143 percent, with bookings exceeding $30 billion against only $10.8 billion shipped, showing extreme customer demand. The company is executing partnerships with Google, Anthropic, OpenAI, and Meta to build large-scale AI compute clusters, with multiple gigawatt commitments starting to ramp in 2027 and beyond.
Guidance The company expects total sales of about $29.4 billion next quarter, up 84 percent year over year. Within that, AI chip sales should hit $16 billion, up over 200 percent. The company also raised its full-year AI sales target to $56 billion and reiterated guidance for 2027 AI sales to exceed $100 billion. Operating margins will stay stable at 67 percent even as the company grows.
Neutral report. Results and guidance were close to expectations, with limited evidence of a reset either way.
Analysts Set New Price Targets
On October 27, 2026, DA Davidson upgraded Broadcom to a Buy rating and raised its price target to $400. Additionally, Citigroup maintained a Buy rating with a target of $515, while Piper Sandler initiated coverage with an Overweight rating and a target of $460. The consensus among analysts suggests a mean price target of $529.1, indicating a strong buy recommendation based on 48 analyst opinions.
About Broadcom Inc.
Broadcom Inc. designs and develops various semiconductor devices and infrastructure software solutions globally. The company operates in two main segments: Semiconductor Solutions and Infrastructure Software. Its strong position in the semiconductor market is critical as demand for technology solutions continues to grow.
Bottom Line
Investors should keep an eye on Broadcom's upcoming earnings report on December 9, 2026, to assess its performance and outlook further. With multiple analysts reaffirming their positive ratings, including DA Davidson's recent upgrade, the sentiment around Broadcom appears to be strong despite current trading levels.
Related Filing Alerts
Source: Rosenblatt's rating change on $AVGO (Oct 27, 2026). Written by software, not financial advice. How we make alerts