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Fly News Breaks for October 29, 2015
GPRO, AMBA
Oct 29, 2015 | 10:40 EDT
After GoPro (GPRO) reported weaker than expected results, Stifel remains comfortable with its previous estimates of Ambarella's (AMBA) sales to GoPro. Based on Go Pro's results, the firm expects the company to ship about 6.5M cameras this year. Stifel predicts that Ambarella will ship about 6M video processors to GoPro in 2015. The firm contineues to expect Ambarella to benefit from the proliferation of video in the world. It keeps a $115 price target and Buy rating on the shares.
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