Arbe Robotics price target lowered to $4 from $5 at Wells Fargo

Wells Fargo analyst Gary Mobley lowered the firm’s price target on Arbe Robotics to $4 from $5 and keeps an Overweight rating on the shares following the quarterly results. Near-term results are less of a focus, as Arbe prepares for their mass production ramp of its imaging radar system on chip in the coming months, the analyst tells investors in a research note.