Morgan Stanley resumed coverage of Broadcom with an Overweight rating and $1,658 price target. The firm says Broadcom has second largest artificial intelligence exposure in its coverage and is poised to grow faster than other AI alternatives. Growth in AI, potential upside synergies from VMWare acquisition, and a recovery in core enterprise semis all make Broadcom compelling relative to others in the “AI winners” camp, the analyst tells investors in a research note.
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