Broadcom price target raised to $430 from $410 at Mizuho

Mizuho raised the firm’s price target on Broadcom (AVGO) to $430 from $410 and keeps an Outperform rating on the shares after OpenAI announced it would officially be building its own Application-Specific Integrated Circuit in partnership with the company. The deal to deploy 10GW of OpenAI’s custom ASIC, code named Titan, is estimated by the firm to potentially be a $150B-$200B deal for Broadcom over “multiple” years, notes the analyst, who “conservatively” raised AI revenue estimates for FY26 to $40.4B, FY27 to $64.5B and FY28 to $78B. The analyst, who notes that Broadcom remains a Top Pick, also points out that OpenAI has now announced roughly 26GW of deals in the past four weeks with Broadcom, Nvidia (NVDA) and AMD (AMD).