Jefferies boosted its price target for Arm Holdings to $320 from $290. The firm maintains a 'Buy' rating on the semiconductor company's shares. Increasing orders for Arm's Artificial General Intelligence (AGI) CPU drive the firm's positive outlook.
Analysts at Jefferies increased their fiscal year 2031 revenue forecast for Arm's AGI CPU division to $18 billion, up from the prior guidance of $15 billion. The report highlights the addition of new customers, including Oracle and Bytedance. It also notes the potential for Softbank to launch a new GPU based on Arm's design. This could positively impact future royalty revenues.