Ambarella price target raised to $65 from $60 at Roth MKM

Roth MKM analyst Suji Desilva raised the firm’s price target on Ambarella to $65 from $60 and keeps a Neutral rating on the shares after its smaller than expected Q4 loss. The company guided revenue growing slightly on a sequential basis at the midpoint, though it still represents a muted revenue level and weaker operating margins due to continued inventory digestion, the analyst tells investors in a research note.