Broadcom (AVGO) Stock Gets Fresh Bullish Endorsement from Mizuho Analysts

Broadcom Inc. (NASDAQ:AVGO) is one of the AI Stocks Investors Are Watching Closely. On October 3^rd, Mizuho reiterated the stock as a “Top Pick.” The firm said the stock is on the top picks list.

“AVGO remains an industry leader with strong profitability…”

Following the October 3 reiteration, the firm once again reiterated an Outperform rating on the stock on October 6, with a price target of $410.00. The move came despite investor concerns about potential margin dilution.

Accelerating ASIC revenues and expanding customer engagement has led the firm to term the stock as the “King of AI Custom Silicon.” It recommends customers to buy the stock on the recent pullback.

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

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: 10 Buzzing AI Stocks on Wall Street and 10 AI Stocks Shaping Wall Street’s Next Big Rally

Disclosure: None.