Susquehanna raised the firm’s price target on Arm (ARM) to $210 from $170 and keeps a Positive rating on the shares. The firm updated its model ahead of Q1 result where they expect ARM-based CPU royalties to partially offset ongoing weakness in smartphone-related royalty revenues. Overall, they see the risk/reward as attractive, underpinned by long-term TAM expansion from AI/AGI CPU opportunities, which they believe can support EPS above $10 over the next several years.
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