Citi Cuts Broadcom Price Target to $458, Cites Margin and TPU Risks
Citi lowered its price target on Broadcom to $458 from $480 while maintaining a Buy rating ahead of its March 4 earnings report, citing gross-margin headwinds, tensor processing unit competition and software-sales exposure risks. The firm anticipates Broadcom will outperform in the second half of fiscal 2026.
1. Citi Lowers Price Objective on Broadcom
On February 17, Citi analyst Atif Malik reduced Broadcom’s price target to $458 from $480 while retaining a Buy rating. The revision reflects concerns over narrowing gross margins, intensifying competition from tensor processing units and potential weaknesses in software revenue growth. Citi expects clearer demand visibility to drive Broadcom's stock to outperform in the second half of fiscal 2026 ahead of its earnings release on March 4.