The reason why some people are saying that Arsenal is not part of the Premier League title race is because of what Arsenal did last season by allowing Manchester City to overtake them and win the Premier League title. But they forget that if Liverpool draws or loses any match, Manchester City or Arsenal will lead the Premier League table.
I think Arsenal need a good striker. If they can't sign a good striker, they can't stay strong in this race. Liverpool are in this race because of the personal skill of the manager Jurgen Klopp. When Jurgen Klopp leaves this team next season, they may never be in this race again. My assessment tells me that Manchester City are the only favorites.
The season has already progressed past the time they'd be able to get a new central forward they'll have to wait until next season. But I have to agree with you, they need a concrete central forward who can score them more than twenty five Premier League goals alone in the Premier League Competition.
Names listed are viz;
Ivan Toney
Dusan Vlahovic
Victor Oshime and lastly, Evan Ferguson from Brighton. Dominic Solanke is also a fine striker having a great season with Bournemouth, he should be looked at closely.