Ceva price target raised to $35 from $28 at Rosenblatt

Rosenblatt analyst Kevin Cassidy raised the firm’s price target on Ceva (CEVA) to $35 from $28 and keeps a Buy rating on the shares. Ceva “delivered another strong quarter” as 10 new IP licensing deals were signed and IoT-related royalties increased year-over-year, notes the analyst, who views the quality of the licensing deals as improving.