Even though Broadcom Inc. (NASDAQ: AVGO) stock has faced a choppy consolidation over the past 12 months, Gil Luria, a Wall Street analyst at D.A. Davidson, has raised his 12-month price target for the core artificial intelligence (AI) infrastructure company.
On October 27, 2026, Luria upgraded the firm’s AVGO stock rating to ‘Buy’ from ‘Neutral’. Additionally, he raised his 12-month price target for Broadcom stock to $400 from $350.
With Broadcom stock trading at $340.69 at press time, this firm signals a possible 17.41% upside over the next 12 months. This renewed bullish sentiment was based on the firm’s analysis of the Anthropic S-1 filing, which demonstrates that the AI lab plans to execute its initial public offering (IPO) and secure its intended capital.
Amid the accelerating AI demand, Luria argued that Broadcom is well positioned to hit its financial expectations.
Broadcom stock price forecast
Over the past five days, three Wall Street analysts reaffirmed bullish sentiment for AVGO, with a 12-month price target range of between $575 and $600.
As a result, 30 Wall Street analysts surveyed by TipRanks over the past 3 months have set an average 12-month price target of $523.72.
Essentially, these analysts are predicting another bull run for Broadcom stock to a new all-time high (ATH) by October 27, 2026.
Is AVGO a good stock to buy?
Over the past 12 months, AVGO’s price has declined 8.65%, thereby pumping its market capitalization to approximately $1.6 trillion.
Despite the AI boom-driven parabolic rise in Broadcom stock slowing down over the past year, Wall Street analysts expect a possible bull rally over the next 12 months.
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