Ceva price target raised to $29 from $25 at Barclays

Barclays raised the firm’s price target on Ceva to $29 from $25 and keeps an Overweight rating on the shares. The company reported revenue in line with guidance and earnings which was higher than consensus, with the highlights being improving profitability and solid momentum in royalties, the analyst tells investors in a research note. The firm says Ceva’s guidance implies a stronger second half and improving profitability.