Arm price target raised to $140 from $125 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Arm (ARM) to $140 from $125 and keeps a Hold rating on the shares. The company’s “Everywhere” event yesterday brought its official entry into the merchant silicon market with its first chip targeting the data center and enterprise server markets, the analyst tells investors in a research note. The firm believes the rollout “provides a significant new growth vector” for Arm that should be significantly accretive over the next five years. The bad news is that this strategic shift now positions Arm to compete more directly with its historical customer base, adds Deutsche Bank.