Broadcom price target raised to $375 from $315 at Piper Sandler

Piper Sandler raised the firm’s price target on Broadcom (AVGO) to $375 from $315 and keeps an Overweight rating on the shares. The firm says the good news continued through Broadcom’s earnings call as AI results and guidance represented strong year-over-year growth. The company also noted that they have secured XPU orders from their 4th customer to the tune of roughly $10B, which will hit in the second half of FY2026. Piper feels that within the Broadcom hyperscaler customer base, XPUs now have a significant chance of becoming the dominant portion of the compute.