DA Davidson Reiterates Neutral Rating on Broadcom Limited (AVGO)

DA Davidson analyst Gil Luria reiterated a Neutral rating and $375.00 price target on Broadcom Limited (NASDAQ: AVGO).

The analyst commented, "Broadcom announced it entered into a long-term agreement with Google to develop and supply custom TPUs for Google's future generations of their custom AI-ASIC. Further, Broadcom granted a supply assurance agreement to Google, covering networking and other components for Google's next-generation AI racks through 2031...Broadcom's projections and longer-term outlook. With NVDA (BUY-rated) and AMD (NEUTRAL-rated) announcing new products, new customers and longer-term outlooks, these two announcements put the spotlight back on Broadcom as a major winner. Maintain NEUTRAL rating and $375 price target, valuing shares at 29x our CY26 EPS estimate, in-line with semiconductor peers. Our rating is mostly based on NVDA’s more attractive valuation."

For an analyst ratings summary and ratings history on Broadcom Limited click here. For more ratings news on Broadcom Limited click here.

Shares of Broadcom Limited closed at $314.43 yesterday.

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