Broadcom Secures $460 Price Target, Implying +30% Upside

Core Insights - Broadcom has received significant upgrades from analysts following a major 10-gigawatt deal with OpenAI, resulting in a nearly 10% increase in share price on October 13 [1][11] - Over 60% of recent price targets suggest that Broadcom shares could reach $400, marking a bullish sentiment among analysts [1][7] Price Target Analysis - The consensus price target for Broadcom is approximately $372, indicating a modest upside of around 7% from current levels [3] - Analysts who updated their targets after October 13 have set a much higher average target of $423, reflecting increased optimism [4] - Barclays and KeyCorp have set particularly high targets of $450 and $460, suggesting potential rises of 29% to 32% [6] Performance Metrics - As of October 20, shares closed at around $349, implying an upside potential of 21% based on recent targets [5] - Broadcom has delivered a total return of 52% in 2025 and nearly 170% since April [5] Analyst Sentiment - Approximately two-thirds of recent price targets indicate at least a 14% upside for Broadcom shares, with only one analyst setting a target below the current price [8][9] - The most bearish target from Wells Fargo suggests only a 1% downside, indicating a generally positive analyst sentiment [9] Competitive Positioning - Broadcom's deal with OpenAI positions it as a key player in the AI semiconductor market, potentially generating over $100 billion in revenue over three years [11] - Broadcom's AI semiconductor revenue grew by 63% to $5.2 billion, while NVIDIA's data center revenue grew by 56% to $41.1 billion, highlighting Broadcom's increasing share of AI spending [12] Market Comparison - Despite Broadcom's positive outlook, NVIDIA remains favored by analysts, with a consensus price target implying around 21% upside and a most bullish target suggesting 75% upside [14]