On June 25th, Guolonghui reported that Bank of America Securities reiterated its buy rating on Broadcom, raising its target price from $2,000 to $2,150, reflecting Broadcom's transformation from a value stock to a growth stock driven by the growth of its artificial intelligence and cloud computing company, VMWare, and is expected to have further merger potential next year. According to fiscal year 2017-2023 data, the normalised growth rate for Broadcom's traditional semiconductor and software businesses is 5-10%. The bank expects that driven by the average annual compound growth rate of 24% of AI chips and VMWare, Broadcom's average annual compound growth rate will double to 13% from fiscal year 2024 to 2026.
大行评级｜美银：上调博通目标价至2150美元 将从价值股转型为成长股
Major bank rating | Bank of America Merrill Lynch: Raised Broadcom's target price to $2150 and will transition from value stocks to growth stocks.
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