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Fly News Breaks for December 23, 2015
GPRO, AMBA
Dec 23, 2015 | 07:31 EDT
Craig-Hallum analyst Richard Shannon started Ambarella (AMBA) with a Buy rating and $80 price target. The company has "best of breed" video capture technology with 30%-35% market share in a fragmented market, Shannon tells investors in a research note. The true near-term growth driver for the company is not GoPro (GPRO) but the transition to HD resolution in the security market, especially in China, the analyst argues.
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