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Fly News Breaks for August 30, 2019
AMBA
Aug 30, 2019 | 07:58 EDT
Cowen analyst Matthew Ramsay raised his price target on Ambarella to $68 from $54 following its beat and raise Q2 results. The analyst said revenue guidance came in much stronger than he modeled led by strength in Auto as design wins steadily ramp while underlying demand in the Security business persists. Ramsay reiterated his Outperform rating on Ambarella shares.
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