UBS, Citigroup lift Broadcom PT on revenue growth prospects
UBS raises PT on networking and custom AI chipmaker Broadcom AVGO.O to $475 from $472; Citigroup raises PT to $480 from $415
Citigroup's PT implies an upside of 33.36% to AVGO's last close of $359.93, and UBS' PT an upside of ~32%
UBS raises estimate for co's FY26 AI semiconductor revenue to more than $60 billion or three times higher than the previous year
AVGO has reiterated that FY26 revenue will grow faster than FY25 growth rate, brokerage says
UBS adds that co's VMware outlook has improved, with opportunities to offer professional services and cloud-like features beyond base hardware
Citigroup says AVGO has announced Anthropic as its fourth AI customer; expects more AI customers and upside in the future
Citigroup believes co's lower gross margin guidance caused stock to trade lower, but expects it to recover given upside
As of last close, AVGO up ~55% YTD
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