Jefferies Lowers Arm Holdings Price Target to $170
Jefferies analyst Janardan Menon lowered the price target on Arm Holdings (NASDAQ: ARM) to $170.00 (from $205.00) while maintaining a Buy rating.
“Despite strong results and guidance, Arm’s share is coming under pressure on worries about the impact of rising memory prices on smartphone volumes.
Management expects limited impact as high-end smartphones with v9 and CSS which provide most of the royalty growth are expected to be less affected.
Strong data centre growth is also likely to compensate.
Separately, the ‘Arm Everwhere’ event in March should provide more detail on the silicon strategy.”
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