Arteris price target raised to $38 from $20 at Rosenblatt

Rosenblatt raised the firm’s price target on Arteris (AIP) to $38 from $20 and keeps a Buy rating on the shares. The company reported a “beat-and-raise” quarter and closed on new data center related licenses, the analyst tells investors in a research note. The firm sees data center licenses driving Arteris’ royalty revenue years earlier than automotive licenses as positive for the company.