Altium (ASX: ALU) share price: has had a shocker of a run so far in 2022

Like many other tech shares, the Altium Limited (ASX: ALU) share price has had a shocker of a run so far in 2022. After reaching an all-time high of $45.30 on 30 December, the electronic design software company’s shares closed Friday’s session at $27.08. That represents a fall of more than 40% in the space of under six months.

While several economists are predicting a US recession in 2023, some brokers believe Altium shares are undervalued at current prices

According to ANZ Share Investing, Jefferies cut its price target by 4.5% to $42.61 apiece for Altium shares. Based on the current share price, this still implies an upside of approximately 57%.

In addition, Bell Potter has a ‘buy’ rating and a $41.25 price target. This reflects a potential increase of around 52% from where Altium shares last traded.

Start Trading
in Minutes

bullet Access 10,000+ financial instruments
bullet Auto open & close positions
bullet News & economic calendar
bullet Technical indicators & charts
bullet Many more tools included

By supplying your email you agree to FP Markets privacy policy and receive future marketing materials from FP Markets. You can unsubscribe at any time.




Source - database | Page ID - 891

Get instant Updates in Telegram