Mizuho Raises Broadcom (AVGO) Price Target, Keeps Outperform Rating

Broadcom Inc. (NASDAQ:AVGO) is one of the 15 Best American Tech Stocks to Buy Right Now. On September 12, Mizuho increased its price target for Broadcom Inc. (NASDAQ:AVGO) from $355 to $410 while keeping an Outperform rating. This decision came after the company reported strong results for its third quarter of fiscal year 2025.

Mizuho highlighted Broadcom Inc.’s (NASDAQ:AVGO) higher AI revenue outlook for fiscal 2026. The firm expects the company’s AI business to grow significantly through fiscal years 2026, 2027, and 2028, driven by its AI portfolio and ScaleUp and ScaleOut opportunities.

Mizuho Raises Broadcom (AVGO) Price Target, Keeps Outperform Rating

The investment firm projects that Broadcom Inc.’s (NASDAQ:AVGO) AI revenue will reach $39 billion in fiscal 2026, up from its previous forecast of $35 billion. The firm expects AI revenue to grow to $60 billion in fiscal 2027, up from the previous estimate of $45 billion, and to $75 billion in fiscal 2028.

Additionally, Mizuho also raised its overall revenue and earnings forecasts for Broadcom Inc. (NASDAQ:AVGO). For fiscal 2026, the firm expects revenue of $84.4 billion, up from the previous estimate of $79.6 billion, and EPS of $9.27, up from $8.68 before.

Looking ahead to fiscal 2027, Mizuho now projects revenue of $108 billion with an EPS of $12.13. For fiscal 2028, the firm forecasts $124 billion in revenue and an EPS of $14.05.

Broadcom Inc. (NASDAQ:AVGO) is an American multinational technology company that designs, develops, and supplies a variety of semiconductor, enterprise software, and security solutions.

While we acknowledge the potential of AVGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AVGO and that has a 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.