Broadcom price target raised ahead of results

What happened: Broadcom Inc. (AVGO) reported fiscal Q2 2026 results on May 28, with revenue slightly missing analyst estimates at $22.19 billion. Despite this, Susquehanna analyst Christopher Rolland raised the firm's price target from $450 to $490, citing strong results and maintained a 'Positive' rating. Separately, Susquehanna and UBS also raised their price targets ahead of the results.

Market impact: The price target increases reflect Wall Street's bullish stance on Broadcom, driving investor interest in the semiconductor sector. This optimism is based on Broadcom's strong fundamentals and growth prospects. The stock is also one of the 12 most bought by hedge funds in Q1 2026, indicating significant institutional support.

What to watch next: Broadcom's Q2 FY2026 earnings and business outlook, scheduled for release after the closing bell on Wednesday, June 3, will be a key catalyst. Additionally, investors will closely monitor any updates on Broadcom's acquisition strategy and its impact on future growth prospects.