UBS Sticks with Broadcom Buy Rating, Flags Semiconductor Valuation Premium
UBS reiterated a Buy rating and $475 price target on Broadcom (AVGO), noting the company’s semiconductor arm trades at a premium to peers on several valuation metrics. The bank highlighted a recent correction in software multiples and identified specific risks around VMware deal renewals and VCF upsell dynamics, while other analysts weighed in with…