Wall Street Projects 38% Upside To Broadcom Inc. (AVGO)

Broadcom Inc. (NASDAQ:AVGO) is among the 12 Most Profitable NASDAQ Stocks to Buy Right Now. On January 27, Bank of America Securities analyst Vivek Arya reiterated the firm’s Buy rating on the stock, according to a report on TipRanks.

This is a reaffirmation of the bank’s previous update on the stock around mid-December, when it lifted the price target to $500 from $460, citing strong prospects of AI growth.

In related news, RBC Capital Markets analyst Srini Pajjuri initiated coverage of Broadcom Inc. (NASDAQ:AVGO) on January 15 with a Sector Perform rating and a $370 price target.

In a research note to investors, the analyst cited strong momentum for TPUs in the short term, while adding that there was some uncertainty around the magnitude of the opportunities from OpenAI and Anthropic. Moreover, Pajjuri justified the Sector Perform rating, saying that the stock was trading at a 25% premium to Nvidia.

Based on recommendations from 30 analysts, the stock is a Strong Buy, with a one-year average share price target of $457.75, representing 38% upside as of January 30.

Broadcom Inc. (NASDAQ:AVGO) is a leading developer, manufacturer, and supplier of semiconductor and infrastructure software products.

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.