Arbe Robotics price target lowered to $2 from $3 at Roth Capital

Roth Capital analyst Suji Desilva lowered the firm’s price target on Arbe Robotics (ARBE) to $2 from $3 and keeps a Buy rating on the shares after its Q2 result. The firm expects Arbe to gain additional customer traction with its advanced radar products as automotive OEMs move forward with ADAS functionality in newer platform launches, the analyst tells investors in a research note. Following its recent funding activity, Arbe Robotics is funded to execute its near-term operating plan, Roth added.