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Fly News Breaks for March 1, 2017
AMBA
Mar 1, 2017 | 08:22 EDT
Roth Capital analyst Suji Desilva lowered his price target for Ambarella to $68 from $70 saying that while results exceeded guidance, guidance was cautious into a seasonally slow quarter also reflecting lead customer inventory digestion. Furthermore, the analyst notes that forward full-year guidance is impacted by content loss at the same lead customer. He reiterates a Buy rating on the shares as he believes business beyond the lead customer headwind remains strong.
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