Tuesday, September 20, 2011 8:04:41 AM
Upgraded from Hold to Buy
ARMH: ARMH: Upgrading to "Buy"
Given the recent pullback in ARM shares, we are raising our rating from Hold to Buy, with a price target of $35.00. Our bullish thesis centers on the long-term growth prospects for the very profitable Process Division (ARM PD) royalties, which made up 46% of 1H11 total revenue.
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