Mizuho analysts raised their price targets for Arm Holdings (NASDAQ:ARM) to $160 (from $100) per share, NVIDIA (NASDAQ:NVDA) to $1,000 (from $850), Broadcom (NASDAQ:AVGO) to $1,550 (from $1,450) and AMD (NASDAQ:AMD) to $235 (from $200) in a note to clients this week, telling investors they see further multiple expansion with multiple catalysts ahead.
In the memo, Mizuho assessed the current AI and Custom Silicon landscape.
Focusing on ARM, the firm said that while the company has made a significant move post-IPO, it continues to see significant upside opportunities.
Overall, the firm sees an accelerating custom silicon roadmap, with Neoverse N3/V3 and foundry collaboration. "While ARM has a lockup expiration coming up 3/12, we continue to see strategic investors continuing to own ARM given its attractive long-term roadmap," wrote Mizuho.
Elsewhere, the firm stated that NVDA remains the biggest near-term AI winner, with AMD and AVGO also major beneficiaries.