Arm price target raised to $169 from $110 at Guggenheim

Guggenheim raised the firm’s price target on Arm to $169 from $110 and keeps a Buy rating on the shares. For Q1, the firm believes that Royalty revenue estimates for 21% year-over-year growth are “achievable” and for License and other revenue are “also attainable. The firm, which adds that FY25 estimates are also “attainable,” but depend on end-market health, calls ARM “one of the few stocks we cover that most likely will see monetization of AI.”