Cantor Fitzgerald Sees Broadcom (AVGO) Stock Nearly Doubling From Here

TLDR

• Cantor Fitzgerald analyst C.J. Muse raised his Broadcom price target to $600 from $525, implying about 68% upside from the stock’s recent price of $357.90
• Broadcom reported Q3 revenue of $29.59 billion, up 85.5% year over year, with AI semiconductor revenue surging 221% to $16.7 billion
• The company raised its fiscal 2027 AI revenue target to $115 billion and set a first-ever fiscal 2028 AI revenue guide of $230 billion
• Despite beating earnings estimates, the stock fell after Q4 guidance of $34.8 billion came in slightly below Wall Street’s $35 billion expectation
• Broadcom declared a quarterly dividend of $0.65 per share, payable September 30 to shareholders of record on September 21

Broadcom (AVGO) stock sits at $357.90, down from recent highs, but Cantor Fitzgerald sees a very different number ahead. Analyst C.J. Muse raised his price target to $600, pointing to 68% upside from current levels, citing the company’s rapidly expanding AI revenue outlook.

Broadcom Inc., AVGO

The target raise came on September 3, one day after Broadcom reported its fiscal third quarter results. The company posted revenue of $29.59 billion, topping analyst estimates of $29.36 billion. Earnings per share came in at $3.32, beating the $3.22 consensus by $0.10.

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