BofA raised the firm’s price target on Ambarella (AMBA) to $90 from $63 and keeps a Neutral rating on the shares after a “strong beat/raise” in Q2. Following the report, the firm raised its FY26 and FY27 sales estimates by 9% and 6%, respectively, but reiterates a Neutral rating given the emerging edge AI opportunity being offset by persisting auto softness.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMBA:
- Ambarella price target raised to $96 from $80 at Morgan Stanley
- Ambarella’s Strong Q2 Performance and Future Growth Potential Drive Buy Rating
- Ambarella’s Mixed Prospects: Strong IoT Growth Offset by Automotive Challenges Justifying Hold Rating
- Ambarella upgraded to Buy from Hold at Summit Insights
- Ambarella’s Strong Financial Performance and Strategic Growth Initiatives Drive Buy Rating