UPDATE: KeyBanc Upgrades Ambarella (AMBA) to Overweioght
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KeyBanc analyst John Vinh upgraded Ambarella (NASDAQ: AMBA) from Sector Weight to Overweight, PT $185.00.
The analyst comments "We are upgrading AMBA to Overweight with a $185 price target as: 1) we see multiple favorable tailwinds related to the adoption of CV within the security and automotive end markets with a limited competitive landscape with the HiSilicon ban, while we have increasing confidence in front-facing ADAS adoption; 2) with its highly differentiated CV/AI assets and IP, and adoption in auto tech, we believe AMBA represents one of the most attractive M&A targets in semiconductors; and 3) inflection in revenues and operating leverage gives us increased confidence in AMBA's ability to sustain R&D investment and its ability to compete."
Shares of Ambarella closed at $148.92 yesterday.
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