UPDATE: Credit Suisse Upgrades ARM Holdings to Outperform Following Q4 Results

Credit Suisse upgraded ARM Holding

from Neutral to Outperform. Credit Suisse said, "We upgrade ARM, raise our TP to 1,130p (from 780p) and increase our EPS estimates by 8%/12%/12%/20%/26% in 2013/14/15/16/17 to account for (1) higher unit estimates for tablets to include the Asian whitebox market, (2) a faster royalty rate ramp, based on new product designs continuing to employ more expensive ARM IP, from high-end OEMs like Samsung and Apple and also the low-end chipset market, and (3) lowered tax rate expectations." ARM Holdings closed at $44.00 on Thursday.