Needham lowered the firm’s price target on Ambarella (AMBA) to $90 from $110 and keeps a Buy rating on the shares. The company’s Q1 results and Q2 guidance exceeded estimates, though the firm is reducing its price target to reflect more conservative assumptions in its discount cash flow valuation model, the analyst tells investors in a research note.
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Read More on AMBA:
- Ambarella price target raised to $75 from $70 at Northland
- Ambarella price target lowered to $65 from $85 at Roth Capital
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- Ambarella price target raised to $63 from $50 at BofA
- Ambarella’s Promising Outlook: Strategic Expansion and Diversified Revenue Streams Drive Buy Rating
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