Ambarella price target raised to $57 from $50 at BofA

BofA raised the firm’s price target on Ambarella to $57 from $50 and keeps an Underperform rating on the shares. Following the company’s July-end quarter report, the firm raised its FY25 sales and EPS forecasts by 6% and 32c, respectively, but FY26 sales “only” goes up 1% in part to account for adverse Q1 seasonality, while EPS declines 7c on expense growth.