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Fly News Breaks for August 24, 2016
GPRO, SNE, AMBA
Aug 24, 2016 | 08:16 EDT
Stifel analyst Kevin Cassidy says he is "cautiously optimistic" that Ambarella's (AMBA) Q2 revenue guidance will come in above expectations. The company was worried about whether Sony (SNE) would be able to meet demand for its sensors used in high end surveillance cameras, but recent checks show that it was able to do so, the analyst stated. Additionally, Ambarella's Q3 guidance should project year-over-year growth, given GoPro's (GPRO) initial Hero 5 builds, according to Cassidy. He keeps an $86 price target and Buy rating on Ambarella.
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