Wells Fargo upgrades Broadcom to Overweight, raises target to $430

Wells Fargo upgraded Broadcom from Equal Weight to Overweight on January 15, 2026 and raised its price target from $410 to $430. The analyst, Aaron Rakers, cited the share price pullback and rising confidence in incremental 2026 catalysts. The bank also raised its 2026 revenue estimate to $100.3 billion from $97.0 billion, which is a material estimate change for a trader modeling the AI business.

• Upgrade: Equal Weight to Overweight
• Price target: $410 raised to $430
• 2026 revenue estimate: $100.3 billion, up from $97.0 billion
• 2026 EPS estimate: $10.80, up from $10.36