Speaking to Sky Sports, Paul Merson said: "The two defeats against West Ham and Fulham might actually do Arsenal a favour.
"They might have to go into the January transfer market now. Arsenal need a centre-forward. There is no doubt about that in my opinion.
"They have got to get Ivan Toney. I don't think they win the league if they don't get a centre-forward. If they get a centre-forward, I think they are bang in it.
"Defiinitely. Why not? You have got to dream. What's the point of being a professional footballer and playing if you are not going to believe."
Lack of goals has been a major issue for Arsenal this season with Gabriel Jesus and Eddie Nketiah not being consistent enough for a top Premier League side.
Brentford's Toney, whose gambling ban from football is about to expire, continues to be linked with the Gunners but FFP restrictions complicate the deal.
