Wells Fargo Raises Arm Holdings Price Target to $220

Wells Fargo analyst Joe Quatrochi raised the price target on Arm Holdings (NASDAQ: ARM) to $220.00 (from $175.00) while maintaining an Overweight rating.

“While remain positive on Arm’s LT position to benefit from emerging AI oppys, F4Q26 is a tougher setup given recent move in shares coupled w/ expectations for Arm to likely reit F2027 rev guide inline w/ Street’s +20% y/y.

PT $220 Recent Outperformance Creates Another Tough Setup.

Despite recent pullback, Arm is +79% since F3Q26 EPS & +47% since Arm Everywhere (vs SOX +32% & 27%) – creating a tough earnings setup.

While DC remains a royalty tailwind, we expect limited changes to the company’s NT forward demand commentary given indirect memory dynamics.

That said, we remain positive on Arm’s LT position to benefit from emerging AI oppys & raise PT to $220 (from $175) – 73x P/E and 55x EV/EBITDA our F2028 estimates.”

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