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Fly News Breaks for December 4, 2015
GPRO, AMBA
Dec 4, 2015 | 07:40 EDT
Stifel believes that Ambarella's (AMBA) quarterly guidance "removes practically all GoPro (GPRO)-related revenue," and the firm believes that this change should prevent Ambrella's stock from being influenced by GoPro's results going forward. Although Ambarella's fiscal 2017 guidance came in below expectations, Stifel still views the 156%-20% growth envisioned by the guidance positively and estimates that the company can return to 20%+ growth after fiscal 2017. Stifel cut its price target on Ambarella to $92 from $115 and keeps a Buy rating.
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