Broadcom Inc (NASDAQ:AVGO) shares rallied in early trading on Friday on media reports of its possible partnership with OpenAI, which is gearing up to mass-produce its first proprietary AI chip.
AVGO stock is at important technical levels. Check out the latest moves here.
Here are some analyst takeaways.
- BofA Securities analyst Vivek Arya maintained a Buy rating, while raising the price target from $300 to $400.
- KeyBanc Capital Markets analyst John Vinh reiterated an Overweight rating, while lifting the price target from $330 to $400.
- Rosenblatt Securities analyst Kevin Cassidy reaffirmed a Buy rating, while raising the price target from $340 to $400.
- Benchmark analyst Cody Acree maintained a Buy rating, while raising the price target from $313 to $385.
- Goldman Sachs analyst James Schneider reiterated a Buy rating, while raising the price target from $340 to $360.
- JPMorgan analyst Harlan Sur reaffirmed an Overweight rating, while lifting the price target from $325 to $400.
Check out other analyst stock ratings.
BofA Securities: Broadcom has added a fourth large customer for its custom AI chip (XPU), along with Alphabet, Meta Platforms and TikTok-parent ByteDance, Arya said in a note. The latest customer, which could be OpenAI, will add around $10 billion in the back half of fiscal 2026, he added.
This puts Broadcom’s AI growth in fiscal 2026 closer to …