Ambarella price target raised to $95 from $80 at Stifel

Stifel raised the firm’s price target on Ambarella (AMBA) to $95 from $80 and keeps a Buy rating on the shares following what the firm calls “another solid beat-and-raise” report in Q3. The firm, which is “impressed” by Ambarella’s third consecutive guidance raise, believes the company continues to execute on its CV product family pipeline, further driving its positioning as “a leading player in the growing AI at the Edge ecosystem,” the analyst added.