CFRA Raises Broadcom (AVGO) Price Target, Keeps Buy Rating

Broadcom Inc. (NASDAQ:AVGO) is one of the 10 Best NASDAQ Stocks to Buy For Long Term. On September 5, CFRA increased its price target for Broadcom Inc. (NASDAQ:AVGO) from $340 to $380 while keeping a Buy rating.

This decision came after Broadcom Inc. (NASDAQ:AVGO) reported results for its third quarter of fiscal year 2025.

CFRA highlighted the company’s growing AI semiconductor business as the main reason for the higher price target. The firm noted the addition of a fourth customer, which is expected to bring in $10 billion in sales in the coming quarters.

The research firm raised its earnings estimates for Broadcom Inc. (NASDAQ:AVGO). CFRA raised the expected EPS for fiscal year 2025 from $6.65 to $6.71. For fiscal year 2026, the EPS forecast was raised from $8.13 to $9.00. For fiscal year 2027, the firm increased the EPS forecast from $9.82 to $10.95.

CFRA also pointed out that investor sentiment should improve as Broadcom Inc.’s (NASDAQ:AVGO) CEO, Hock Tan, plans to stay in his role until at least the end of the decade.

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, 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 Under $10 That Could Triple and 10 Unrivaled Stocks of the Next 3 Years.

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