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Fly News Breaks for August 30, 2019
AMBA
Aug 30, 2019 | 09:04 EDT
Craig-Hallum analyst Richard Shannon maintained a Buy rating on Ambarella and raised his price target on shares to $62 from $53 following the company's "strong" Q2 earnings and Q3 guidance that is well above consensus estimates. Shannon noted that after a few difficult years of transitioning away from the consumer business and investing in computer vision, the company seems ready to start a "multi-quarter (or even -year) track in a positive direction."
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