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Fly News Breaks for January 30, 2020
Jan 30, 2020 | 08:01 EDT
Morgan Stanley analyst Joseph Moore said Ambarella's computer vision solutions, which he continues to see as a breakthrough technology, have transitioned to the point of turning into a fairly substantial pipeline of new wins that can "reasonably" drive 160%-250% revenue growth in the next five years. In the last twelve months, the company has achieved significant design win momentum in all markets, which signals that initial optimism is becoming more tangible, according to Moore, who raised his price target on Ambarella shares to $85 from $61 and keeps an Overweight rating on the stock.
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