Mizuho analyst Vijay Rakesh raised the firm’s price target on Broadcom (AVGO) to $435 from $430 and keeps an Outperform rating on the shares. The firm now believes Anthropic is Broadcom’s fourth customer. It sees Anthropic ramping to $10B of revenue with “AI Racks” in the second half of 2026. The news is potentially negative for Marvell (MRVL), the analyst tells investors in a research note. Mizuho says Anthropic “adds additional tailwinds” for Broadcom.
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