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Fly News Breaks for May 10, 2016
CEVA
May 10, 2016 | 07:27 EDT
Oppenheimer analyst Andrew Uerkwitz raised his price target for CEVA to $32 from $25 as non-baseband inflection point approaches. The analyst says the company has seen 22% year over year growth and he expects this trend to continue. Non-baseband segment is a growth driver that will slowly become primary to CEVA's story, Uerkwitz tells investors, adding that he sees 123% upside potential to the royalty line. The analyst reiterates an Outperform rating on the shares.
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