Goldman Sachs Adds ARM Holdings (ARMH) to Conviction Buy List

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Earlier, Goldman Sachs added ARM Holdings (NASDAQ: ARMH) to its Conviction Buy with a price target of 800p.

The firm said the pullback creates an attractive entry point. "ARM remains at the nexus of the convergence of the handset and computing industries, and we believe the adoption in these areas is likely to provide the company with a significantly inflationary blended royalty rate that is not reflected in today's valuation," the firm said.

For more ratings news on ARM Holdings click here and for the rating history of ARM Holdings click here.

Shares of ARM Holdings closed at $23.83 yesterday, with a 52 week range of $14.16-$32.18.

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