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Fly News Breaks for November 23, 2015
AMBA
Nov 23, 2015 | 08:53 EDT
Pacific Crest believes that Ambarella's business other than the action camera market is growing at a rate of 50%+ and has multiple potential upside drivers. The firm notes that the action camera market only accounts for 30% of the company's business. It lowered its price target on the name to $77 from $102 to reflect the softening of the action camera market but keeps an Overweight rating on the shares.
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