Cantor Fitzgerald raised its price target on Broadcom to $600 from $525 while maintaining an Overweight rating and designating the chipmaker as a Top Pick, citing accelerating artificial-intelligence revenue momentum.
The new target reflects 17 times Cantor’s calendar 2028 earnings-per-share estimate of $36. Broadcom reported $21.7bn in AI revenue for the October quarter, a 30% increase from the prior quarter, and raised its fiscal 2027 AI revenue guidance to $115bn from a prior outlook of more than $100bn. For fiscal 2028, Broadcom initiated AI revenue guidance of $230bn, implying total revenues near $285bn for the year and signaling AI revenue is on track to double in both fiscal 2027 and 2028.
Cantor’s 2028 EPS model stands at $36, above the consensus of $27.39, while Broadcom guided to fiscal 2028 EPS exceeding $30 compared with a consensus of $26.38. The firm also noted Broadcom is supply-constrained in fiscal 2027 across substrates, wafers, CoWoS and high-bandwidth memory, with customers including Google, Anthropic, OpenAI and Meta driving demand.
Other analysts have also lifted targets: Morgan Stanley set a $505 target with an Overweight rating, Raymond James raised its target to $475, Baird assigned a $630 target with an Outperform rating, Barclays set a $500 target and Mizuho set a $530 target. Broadcom’s market capitalization has reached roughly $1.75trn, trading at a PEG ratio of 0.48.
