Arm price target raised to $220 from $175 at Wells Fargo

Wells Fargo raised the firm’s price target on Arm (ARM) to $220 from $175 and keeps an Overweight rating on the shares. While the firm remains positive on Arm’s long-term position to benefit from emerging AI opportunities, Q4 2026 is a tougher setup given recent move in shares coupled with expectations for Arm to likely reiterate 2027 revenue guide in line with Street’s up 20% year-over-year.