CICC International Securities assigned a "buy" rating to Broadcom with a target price of $425.

CICC recommends "buy" rating for Broadcom with a target price of $425: The company's AI semiconductor revenue is expected to achieve a 87% CAGR in the fiscal years 2025-2027, benefiting from the dual drive of xPU ASIC acceleration chips and AI communication networks. VMware integration exceeds expectations, enhancing software synergy and profit stability. It is expected that Non-GAAP EPS will reach $12.00 in the fiscal year 2027, with high visibility of performance growth. The target price is $425, corresponding to a PE ratio of 45/35 times for the fiscal years 2026/27.