Arm Holdings arrived on the New York market with a bang at its initial public offering, but investors shouldn’t rush to buy the chip-design stock, according to analysts at Susquehanna Financial Group.
According to Susquehanna’s Christopher Rolland and Mehdi Hosseini, the stock seems to be fully valued. They jointly initiated coverage of Arm with a Neutral rating and share-price target of $48, a figure based on an enterprise value of 15 times Arm’s forecast sales for 2024.
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