Roth MKM raised the firm’s price target on Ambarella (AMBA) to $80 from $60 and keeps a Neutral rating on the shares. Ambarella delivered above consensus sequential revenue growth in the quarter and expects mild seasonality in the guidance, and Roth MKM is encouraged that normalized inventory levels leave opportunity for growth from program opportunities despite a muted auto end demand environment, the analyst tells investors in a research note.
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Read More on AMBA:
- Ambarella price target raised to $100 from $90 at Needham
- Ambarella price target raised to $65 from $57 at BofA
- Ambarella price target raised to $85 from $70 at Susquehanna
- Ambarella price target raised to $95 from $80 at Stifel
- Ambarella price target raised to $90 from $73 at Morgan Stanley
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