Wells Fargo Boosts Broadcom (AVGO) Price Target on New Growth Catalysts

Broadcom Inc. (NASDAQ:AVGO) ranks among the most promising QQQ stocks according to hedge funds. On January 15, Wells Fargo boosted Broadcom Inc. (NASDAQ:AVGO) price target to $430 from $410, and upgraded the stock from Equal-weight to Overweight. The bank noted the recent decline in Broadcom Inc. (NASDAQ:AVGO) shares, as well as increased confidence in potentially important new catalysts through 2026, as grounds for its more favorable outlook.

According to the firm’s updated calendar, Broadcom’s AI semiconductor revenue is now estimated to reach $52.6 billion (increasing 116% year-over-year) in 2026 and $93.4 billion (increased 78% year-over-year) in 2027.

Wells Fargo reiterated its outlook for Broadcom’s non-AI semiconductor revenue while projecting modest double-digit year-over-year growth for the company’s Infrastructure Software business in FY2026, pointing out that Broadcom Inc. (NASDAQ:AVGO) ended FY25 with an Infrastructure Software pipeline of around $73 billion.

Broadcom Inc. (NASDAQ:AVGO) designs, develops, and supplies various semiconductor devices and infrastructure software solutions worldwide. The company operates in two segments: Semiconductor Solutions and Infrastructure Software.

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