Broadcom price target raised to $210 from $195 at Baird

Baird raised the firm’s price target on Broadcom (AVGO) to $210 from $195 and keeps an Outperform rating on the shares. The firm noted they nnounced two additional custom ASIC customers with potential revenue contribution prior to F2027, and provided an AI SAM implying about 60% three-year CAGR, reinforcing the view that AI will be the key growth engine for the company medium term.