UBS analyst Timothy Arcuri lowered the firm’s price target on Broadcom to $675 from $690 but keeps a Buy rating on the shares after its Q4 earnings. The company’s solid set of results and guidance reaffirms its unique product and end market positioning, with demand commentary also seen as remaining "very solid", but its management also recognizes macro headwinds, the analyst tells investors in a research note. Arcuri adds that Broadcom fundamentals should hold up better than "anywhere else in semis", but the company is not immune from a recession.
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