---

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

Written by Leo Miller. Published 10/22/2025.

After its massive 10-gigawatt (GW) deal with OpenAI, Wall Street analysts are again issuing big upgrades for the semiconductor giant Broadcom (NASDAQ: AVGO). The OpenAI news sent shares up by nearly 10% on Oct. 13.

Now, more than 60% of recent price targets indicate shares will reach the previously unseen $400 level.

Additionally, Broadcom has received its highest price target ever.

Let’s dive into Broadcom’s latest price-target data and examine how high and how low analysts believe shares may move.

AVGO’s Most Bullish Target Eyes Up to 32% Upside in Shares

The MarketBeat-tracked consensus price target on Broadcom sits at approximately $372. That implies modest upside of about 7% and is slightly above Broadcom’s all-time closing price of $369. The more recently an analyst updated their target, the more bullish they tend to be.

For example, among analysts whose last update came in September, the average target rises to $383. Among analysts who updated on or after Oct. 13, that figure jumps to $423.

With shares closing around $349 on Oct. 20, the $423 figure implies roughly 21% upside. While not revolutionary, it’s notable given Broadcom’s recent run: shares have returned 52% in 2025 and nearly 170% since Liberation Day lows in April.

Broadcom also received two especially high targets from Barclays and KeyCorp. Their respective $450 and $460 targets suggest shares could rise between about 29% and 32%. KeyCorp’s $460 target replaces its previous $420 target from Sept. 30, which had tied for Broadcom’s highest at the time.

The Majority of Recent Targets See Broadcom Going to $400 or Higher

Out of roughly 20 Broadcom price targets tracked by MarketBeat since the start of September, 13 now sit at $400 or higher. This count excludes several ratings that did not include a price target.

Overall, just under two-thirds of recent price targets imply at least 14% upside. That skew toward upside is another factor supporting the stock’s continued momentum.

Broadcom’s current valuation is further supported by the fact that only one recent analyst target sits below the stock’s current price: Wells Fargo & Company’s $345 target.

Even that most bearish recent target only implies about 1% downside. Recent analyst sentiment is clearly tilted toward limited downside and meaningful upside potential.

Broadcom May Be Catching Up, But It Still Trails NVIDIA on Multiple Fronts

Considering Broadcom’s OpenAI deal, it’s unsurprising analysts have grown more bullish. Based on energy consumption, Broadcom’s agreement is comparable to the 10 GW partnership NVIDIA inked with OpenAI.

This suggests OpenAI views Broadcom as essential to its AI ambitions and that NVIDIA won’t capture all the benefits. It further cements Broadcom as the most important AI chip designer outside of NVIDIA. Deutsche Bank analysts say Broadcom could generate over $100 billion in revenue over the three-year OpenAI deal.

If Broadcom were to generate roughly $33 billion a year from the agreement, that would imply about a 150% jump in its AI semiconductor revenues.

As of last quarter, that business had an annual run-rate of just under $21 billion.

There is evidence Broadcom is gaining ground in attracting AI spending. NVIDIA’s data-center revenue grew 56% last quarter to $41.1 billion, while Broadcom’s AI semiconductor revenue grew 63% to $5.2 billion, suggesting Broadcom captured a larger share of spending.

That said, NVIDIA’s numbers included a $4 billion decline in H20 chip revenues due to export restrictions on China. Had those sales held, NVIDIA’s data-center growth would have been 71%, exceeding Broadcom’s AI growth. Either way, Broadcom’s AI revenue remains less than one-fifth of NVIDIA’s data-center revenue.

Despite bullish sentiment around Broadcom, Wall Street still favors NVIDIA. The MarketBeat consensus price target on NVIDIA implies roughly 21% upside, while the most bullish $320 target implies about 75% upside. Even the stock’s lowest target since early August—$200—still suggests upside from current levels.