0538 GMT - Broadcom's revenue in the application-specific integrated circuits space could significantly beat market expectations, HSBC analysts say as they upgrade the stock to buy from hold. They reckon Broadcom's FY26-27 ASIC revenue potential is undervalued, noting rising capex toward ASIC projects. Trends suggest scope for higher pricing premiums, too. "We believe we now have better visibility into the ASIC project pipeline and expect Broadcom to have up to seven customers by FY27." They think ASIC revenue will start ramping more meaningfully from FY26, and continue into FY27. New customers in both FY26 and FY27 will help that momentum. The brokerage raises the stock's target to $400 from $240. Shares closed at $263.77. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

June 25, 2025 01:39 ET (05:39 GMT)

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