Arm price target raised to $140 from $118 at Susquehanna

Susquehanna raised the firm’s price target on Arm (ARM) to $140 from $118 and keeps a Neutral rating on the shares. The firm updated its semiconductor models to reflect 2025 wafer fab equipment spending of $94B, down 6% year-over-year, while forecasting 6% growth in 2026. It expects wafer fab equipment to remain in the $90B-$100B range through 2026. However, increased test time and end-market demand diversification are expected to help, the analyst tells investors in a research note.