UPDATE: KeyBanc Upgrades Ambarella (AMBA) to Overweioght

(Updated - September 22, 2021 5:23 AM EDT)

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."

For an analyst ratings summary and ratings history on Ambarella click here. For more ratings news on Ambarella click here.

Shares of Ambarella closed at $148.92 yesterday.

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