JPMorgan reiterates "Overweight" rating on Broadcom (AVGO.US) ahead of earnings! Strong AI revenue growth momentum, stock price may rise by 49%
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JPMorgan stated in a recently released research report that the expected increase in TPU demand and strong AI network business will drive Broadcom's revenue, profit, and free cash flow in the first quarter to exceed both the bank's and the market's consensus expectations, and has raised its performance guidance. The bank reiterated its "overweight" rating on Broadcom, setting a target price of $475 for December 2026, which represents nearly a 49% upside compared to the stock's closing price of $318.82 on Monday in the US market.
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