Broadcom (AVGO) Remains a Top Pick as Cantor Fitzgerald Lifts Price Target to $350

Broadcom Inc. (NASDAQ:AVGO) is one of the AI Stocks Analysts Are Backing Right Now. On September 2, Cantor Fitzgerald analyst C.J. Muse raised the price target on the stock to $350.00 (from $300.00) while maintaining an Overweight rating. Broadcom remains a “Top Pick” for the firm.

Cantor anticipates a modest beat and raise driven by upside from Broadcom’s Semiconductor Solutions, particularly frm Custom Silicon.

It also sees continued demand for “Google’s next-gen TPU v6 (and upcoming v7p in 2H) ramps as well as a more meaningful ramp likely to come from Meta’s MTIA program in the October Q time frame.”

The company’s cyclical businesses will likely begin recovering in July while its infrastructure software business is expected to stay stable.

Based on this stronger outlook, the firm has raised the price target on the stock.

“Additionally, all eyes will turn towards any visibility of current AI Custom Silicon engagements converting into customers with high-volume ramps in sight. Furthermore, we look for confirmation of a recovery within the cyclical businesses beginning in the July Q, following nine sequential quarters of Y/Y declines and stability in the Infrastructure Software business. Overall, we believe that Custom Silicon revenues could potentially reach $25-30B in CY26 and $40B+ in the CY27 time frame, and outline a framework for stretch goal of $13 in EPS in CY27. We are raising our price target to $350 from $300 reflecting our rising confidence in 2027 earnings power, based on a ~30x multiple (discounted back by 12% vs. prior 30x CY26 stretch goal EPS of $10). We reiterate our Overweight rating and AVGO remains a TOP PICK.”

Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets.

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