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Broadcom Corp. Message Board

  • lakers_w lakers_w Nov 7, 2002 8:51 PM Flag

    Thomas Weisel reits BUY on BRCM

    Broadcom (BRCM) 12.46 -0.77: Shares fell 5.8% following company's first ever analyst day, where management outlined strategy and communicated new emerging growth opportunities and core business developments. Despite upbeat presentations and reiteration of guidance, analysts came away from event only cautiously optimistic. Wachovia Sec reiterates Hold rating; although BRCM trades at discount to Communication ICs group and near its all-time low, thinks stock upside will be limited until return of growth in core business. Goldman Sachs also looks for stock to be range-bound until there are clearer signs of improving business trends at key customers; maintains In-Line rating. Thomas Weisel refrains from commenting on stock's near-term, but considers BRCM long-term winner, best positioned to leverage convergence of many different broadband markets, expected to grow for years to come; reiterates Buy rating.

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