Arm price target raised to $180 from $150 at BofA

BofA analyst Vivek Arya raised the firm’s price target on Arm (ARM) to $180 from $150 and keeps a Buy rating on the shares. BofA expects Arm to benefit from faster conversion from its v8 to v9 architecture and total compute solution rate and market share gains against Intel (INTC) and AMD (AMD) and x86 as more licensees adopt Arm technology to deliver power efficient processors for client and data center, the analyst tells investors in a research note.