Arm: the stock climbs again, Mizuho raises its target
March 07, 2024 at 11:27 am EST
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Arm's share price continued to rise on the New York Stock Exchange on Thursday, thanks to a note from Mizuho in which the broker raised its price target for the chipmaker.
In its study, Mizuho believes that Arm's share price still has significant room for improvement, despite a near-tripling in value since its IPO last September.
The broker explains that, in view of the promises emerging in the mobility and personalized AI processor markets, strategic investors will continue to seek out Arm and its roadmap, which is deemed 'attractive' over the long term.
In this context, the broker raises its price target on the stock from $100 to $160, which still represents a potential upside of around 20%.
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Arm Holdings plc is a semiconductor intellectual property (IP) company. The Company develops and licenses IP for various devices worldwide, and it provides development tools that accelerate product development, from sensors to smartphones to servers. Its central processing unit (CPUs) and nomenclature for properties and units (NPUs) include Cortex-A, Cortex-M, Cortex-R, Neoverse, Ethos and SecurCore. It provides processor IP, offering a range of cores to address the performance, power and cost requirements of every device, from Internet of things sensors to supercomputers, and from smartphones and laptops to autonomous vehicles. Its graphics and camera technology drives the visual experience across a range of devices, including mass-market to high-performance smartphones, Android OS-based tablets, and digital televisions. It provides foundation physical IP and processor implementation solutions to address the performance, power and cost requirements for all application markets.