J.P. Morgan Reiterates Buy Rating on Broadcom, Keeps PT at $400

Broadcom Inc. (NASDAQ:AVGO) is one of the 10 Best AI Stocks to Buy According to Goldman Sachs. On September 16, J.P. Morgan reiterated a Buy rating on Broadcom Inc. (NASDAQ:AVGO), keeping the price target at $400.

J.P. Morgan analyst Harlan Sur remains optimistic about AVGO following his discussion with Broadcom’s CFO Kirsten Spears. Sur is impressed with how strongly Broadcom is positioning itself in the AI-driven era. AI demand remains robust, and Broadcom is confident that each of its customer engagements could potentially scale to one million XPU AI clusters.

Sur pointed to Broadcom’s ambitious $120 billion AI revenue target by 2030, highlighting the company’s history of outpacing goals. He also noted the company’s momentum in product technology, with Broadcom on track to tape-out its first-generation 2nm/3.5D package AI XPU products in 2025 for a prospective customer. This achievement positions the company ahead of merchant GPU competitors as the clear technology leader.

As of September 23, Broadcom Inc. (NASDAQ:AVGO) average price target of $382.50, based on analysts’ estimates, implies an upside of almost 15.85% from current levels.

Broadcom Inc. (NASDAQ:AVGO) is a technology firm that designs, develops, and supplies a range of semiconductor, enterprise software, and security solutions. The company is a major AI infrastructure player, specializing in custom AI chips, networking, and optical interconnects.

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.

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