Morgan Stanley analyst Lee Simpson raised the firm's price target on Arm to $202 from $191 and keeps an Equal Weight rating on the shares. Arm's fiscal Q4 beat on the top and bottom line, but royalties were "weak at only" $671M and Q1 guidance was "marginally ahead" of expectations, the analyst tells investors in a post-earnings note. CPU demand appears strong, but guidance is "prudent reflecting supply as the gating factor," the analyst added.
