Shares of Arm Holdings PLC are trading only 6% above their initial-public-offering price, but analysts see far more upside for the chip-design name.
A number of analysts initiated coverage of Arm’s stock Monday after the waiting period ended for underwriting banks to do so. The new ratings were largely positive, according to FactSet, as at least seven analysts launched coverage with buy-equivalent stances, while two began coverage at the equivalent of hold.
Rosenblatt analyst Hans Mosesmann set a $85 price target on Arm shares, with that target representing 57% upside from Monday’s close. He set a buy rating on the stock as well.