Oppenheimer Raises Price Target on Broadcom (AVGO) to $325, Maintains Outperform

Broadcom Inc. (NASDAQ:AVGO) is one of the best stocks for a 20-year long-term stock portfolio. On August 28, an Oppenheimer analyst raised his price target on Broadcom Inc. (NASDAQ:AVGO) to $325 from $305, reiterating an Outperform rating ahead of the company’s Q3 results.

The analyst expects the company to report a strong quarter and provide a robust Q4 outlook, based on its leadership in AI networking and compute businesses. He highlighted Broadcom Inc.’s (NASDAQ:AVGO) position as the leading supplier of custom AI ASICs, with projects at leading tech companies, including Google, Meta, and ByteDance.

This came shortly after Citi analyst Christopher Danely reiterated his Buy rating with a $315 target on August 26. He expected Q3 earnings to top consensus, with AI-related revenue contributing around 30% of FY25 sales. Danely also pointed out that Broadcom Inc.’s (NASDAQ:AVGO) broader portfolio helps offset potential margin pressure.

Together, these updates suggest confidence in Broadcom Inc.’s (NASDAQ:AVGO) ability to deliver both near-term upside and sustained growth, supported by its leadership in AI and diversified revenue streams.

Broadcom Inc. (NASDAQ:AVGO) is a global technology company that designs, develops, and supplies a wide range of semiconductor and infrastructure software solutions.

While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: Top 10 Stocks to Buy and Hold Forever and 12 Overlooked Large-Cap Stocks with Low Multiples.

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