(CercleFinance.com) – Oddo BHF reiterates its ‘outperform’ opinion on Arm Holdings with a price target raised from 110 to 130 dollars, seeing the stock as remaining ‘the key vehicle for playing on the complexity of the architectures necessary for AI, including in smartphones’.
A few days after the quarterly publication, the research office said it was reassured by the fact that Arm should continue to grow on average by 20% per year over the next three financial years, leading it to raise its forecasts by 4% on average.
If ‘mentioning the valuation of Arm often amounts to saying that the stock is too expensive at 57 times the 12-month forward-looking EBITDA of the consensus’, Oddo BHF judges it ‘acceptable in view of the growth of the next three years’.
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