Roth Capital Starts Arbe Robotics Ltd. (ARBE) at Buy
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Roth Capital analyst Suji Desilva initiates coverage on Arbe Robotics Ltd. (NASDAQ: ARBE) with a Buy rating and a price target of $20.00.
The analyst comments "Our ARBE price target of $20 represents a CY25 EV/Sales multiple of 7.1x, discounted back to current year at a rate of 15% and a discount versus established advanced automotive semiconductor technology peers' CY22 average of 8.9x, reflecting an attractive entry point into ARBE’s growth opportunity. ARBE’s current CY25 EV/Sales multiple of 1.7x and EV/EBITDA multiple of 4.2x are essentially in-line versus comparable multiples of newly public autotech companies of 1.8x and 4.4x, respectively. We expect investors to steadily gain confidence in ARBE’s: 1) 4D imaging radar market growth opportunity; 2) share gain opportunity versus conventional radar available in market today; and 3) high margin scalable business model."
Shares of Arbe Robotics Ltd. closed at $8.36 yesterday.
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