Credit Suisse upgraded ARM Holding ARMH 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.
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