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Fly News Breaks for August 31, 2018
AMBA
Aug 31, 2018 | 07:39 EDT
Stifel analyst Kevin Cassidy lowered his price target on Ambarella shares to $45 from $56 after the company guided for continued weakness in all consumer camera categories, which leaves him more cautious on the core business into FY20. However, he keeps a Buy rating on the stock, citing his positive view on the longer term prospects of Ambarella's computer vision SoCs. Management stated that the CV family is progressing in line with previous expectations and they expect initial CV revenue in the first half of next year, noted Cassidy.
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