UPDATE: Barrington Research Raises Price Target On Ambarella On CES Wrap Up

In a report published Monday, Barrington Research analyst Ted Moreau Jr. reiterated an Outperform rating on Ambarella (NASDAQ: AMBA), and raised the price target from $55.00 to $65.00.

In the report, Barrington Research noted, “At CES, we toured Ambarella's product demos and met up with CEO, Fermi Wang. Following CES, we are more excited about Ambarella's opportunities in new markets such as drones and automotive. We are raising our price target to $65 from $55.”

Ambarella closed on Friday at $62.00.