Erste Group Reiterates Hold Rating on Broadcom Limited (AVGO)

Erste Group analyst Hans Engel reiterated a Hold rating and {REMOVEPT} price target on Broadcom Limited (NASDAQ: AVGO)

The analyst comments "The company expects the very positive momentum to continue in the third quarter of the new fiscal year. Revenue is expected to total approximately USD 29.4 billion, representing an increase of +89% yearover-year. Broadcom expects revenue from AI semiconductors, in particular, to rise to USD 16 bn. Both the gross margin and the operating margin are expected to remain stable at a high level. However, the stock’s high valuation already reflects much of this positive outlook. The potential for further price appreciation currently appears limited."

For an analyst ratings summary and ratings history on Broadcom Limited click here. For more ratings news on Broadcom Limited click here.

Shares of Broadcom Limited closed at $373.90 yesterday.

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