Erste Group Upgrades Broadcom to Buy
Erste Group analyst Hans Engel upgraded Broadcom (NASDAQ: AVGO) to a Buy rating.
“The Group expects the very positive momentum to continue in the third quarter of the new financial year. Sales will amount to approximately USD 29.4 billion.
This corresponds to an increase of +89% Y/Y. Broadcom expects sales of AI semiconductors in particular to increase to USD 16 bn.
The gross margin and the operating margin are expected to remain stable at a high level. The Group is growing much faster than its peers in the sector.
The stock should benefit from the company’s above-average prospects and therefore continue its upward trend.”
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This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
