Arm price target raised to $160 from $100 at Mizuho

Mizuho analyst Vijay Rakesh raised the firm’s price target on Arm to $160 from $100 and keeps a Buy rating on the shares. The analyst is taking a longer-term look at the artificial intelligence and custom silicon landscape. While Arm has had a significant move post the initial public offering, the firm continues to see “significant upside opportunities” given further custom silicon and mobile upside.