Arm price target lowered to $110 from $120 at Loop Capital

Loop Capital analyst Ananda Baruah lowered the firm’s price target on Arm (ARM) to $110 from $120 and keeps a Buy rating on the shares. Arm essentially delivered an in-line June quarter along with an in-line September quarter guide, the prospect of gaining 50% Windows PC share over the next five years along with an ongoing solid smartphone market, the firm’s recent Apple (AAPL) upgrade and its ongoing constructive view of Nvidia (NVDA) Gen AI GPU leaves Loop believing that catalyst dynamics remain intact, the analyst tells investors in a research note.