Imagination Tech royalties to rocket, says Goldman Sachs
Shares in Imagination Technologies Group, the company behind the technology used in Apple's new iPad, leapt to their highest level in nearly 18 years following comments from Goldman Sachs.
Shares in Imagination Technologies Group, the company behind the technology used in Apple's new iPad, leapt to their highest level in nearly 18 years following comments from Goldman Sachs.
The broker said that the firm's royalties are set to soar, sending the share price rocketing 8.21%, or 52.50p, to 692.00p.
Analyst Simon Schafer said that "IMG remains at the heart of some of the most significant smartphone and tablet ecosystems", and forecast a 1,000p rise in the share price over the next year, compared to a previous prediction of 850p.
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He also pointed out that Imagination has the highest growth potential of all European tech groups covered by the the broker.
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