Broadcom Limited (AVGO) PT Raised to $290 at TD Cowen

TD Cowen analyst Joshua Buchalter raised the price target on Broadcom Limited (NASDAQ: AVGO) to $290.00 (from $200.00) while maintaining a Buy rating.

The analyst commented: "A slight beat/raise. F2Q AI sales were in-line, but guided above our model in F3Q. Investors may be disappointed at limited incremental comments on XPU engagements and the previously disclosed SAM, but ~60% AI growth outlook in F2026 is a strong signal of confidence in Broadcom's AI networking and XPU franchises. With the stock outperforming YTD, we anticipate a muted response. Buy, PT to $290. Our F2025 estimates are slightly higher, with F2026 coming up due to expected momentum in AI revenues. We reiterate our Buy rating and raise our PT to $290, which is based on ~35x our F2026E EPS."

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