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Fly News Breaks for February 1, 2017
CEVA
Feb 1, 2017 | 12:06 EDT
Benchmark analyst Gary Mobley noted that CEVA reported better than expected Q4 results and gave higher than consensus Q1 guidance, while also pointing toward FY17 royalty revenue growth of 10%-20%. However, he believes the midpoint of royalty revenue guidance will be revised upward as the year progresses, as was the case last year. Mobley reiterates a Buy rating and $40 price target on CEVA shares and said he would use any weakness as a buying opportunity.
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