Morgan Stanley analyst led by Joseph Moore upgraded Ambarella to Overweight citing the pullback in shares and said business trends have bottomed. China surveillance customer checks have been encouraging and other core growth segments such as autos, drones, consumer surveillance cameras, and wearables, ex GoPro, should continue to drive growth, according to Moore. Additionally, he expects new computer vision applications to add strategic value and expand the multiple as the company moves from an enabler of key niche markets to a major player in critical markets for the largest semiconductor companies.