BMO Capital initiated coverage on Broadcom (AVGO) on August 21, 2026. The firm assigned an "Outperform" rating. BMO set a price target of $455.00. The firm based its outlook on Broadcom's strong position in AI computing and networking.
BMO analysts highlighted Broadcom's custom ASIC technology. They also noted its key relationships with major hyperscale and digital platform operators, including Google, OpenAI, and Anthropic. The bank stated Broadcom's AI business is accelerating. Networking remains a core pillar of its growth strategy. This new rating follows a more mixed sentiment from other firms in recent weeks.