Cantor Fitzgerald Analyst Raises Broadband Price Target to $600 Following Strong Earnings
Broadcom (AVGO) delivered strong earnings on September 2, 2026, prompting Cantor Fitzgerald analyst C.J. Muse to raise his price target for the stock from $525 to $600 while maintaining an Overweight rating. The adjustment reflects upgraded AI revenue guidance and a projected increase in fiscal year 2028 earnings per share of $35, significantly above Wall Street's consensus estimate. Muse cited Broadcom’s revised AI revenue targets—$115 billion for FY2027 and $230 billion for FY2028—as key drivers behind the new target. The company also reported a 221% year-over-year increase in AI semiconductor revenue to $16.7 billion, with total quarterly revenue of $29.59 billion exceeding expectations. Despite strong results and an optimistic outlook from top analysts like Muse, Broadcom’s stock fell slightly after the report due to weaker-than-expected fourth-quarter guidance and broader sector profit-taking.
Tickers: $AVGO
Topics: AI_revenue_guidance analyst_upgrade AVGO Broadcom price_target