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Technology Stocks : Broadcom (BRCM) -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Kessel who wrote (2481)	8/20/1999 10:31:00 PM
From: Bob Kim	Read Replies (1) \| Respond to of 6531

Kevin, Here are a couple of things that might be of interest along with the ML report. restex.com restex.com

To: Kevin Kessel who wrote (2481)	8/21/1999 6:51:00 AM
From: Keith A Walker	Respond to of 6531

From the Merrill report: "We recognize that valuation is extended on any measure if one looks at 1999 revenue and earnings. We encourage investors to focus on what we have been saying for some time - Broadcom is on track to be at a $900 million annual revenue run rate by mid-2001. The company, when it gets there, should still be delivering annual growth in the 30% to 40% range. At that point the company could easily be capitalized at $20 billion, based on valuations currently being applied to communications-intensive semiconductor companies. We think that represents attractive upside from the current level - our price objective is $157." There are some CYA statements in the above, however, when the $157 price objective is reached, given nothing else changes, Osha will raise his price target to $180. This according to my guy at Merrill: Osha is extremely bullish on BRCM.