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4/1/15: Ambarella Inc. (Nasdaq: AMBA) is one of Money Morning’s top 2015 stocks, with a year-to-date gain of 45.9%. Last week, Matthew Ramsay of Canaccord Genuity raised the target price on AMBA from $74 to $81, maintaining a Buy rating. This up-pricing came after meeting with the company’s CEO Fermi Wang and CFO George Laplante last week.
The analyst said the company is well set to experience sales and earnings growth, owing to the projected increase in demand for HD and UltraHD video capture and compression in several B2C and B2B markets. Mr. Ramsay emphasized that Ambarella’s initiatives in video analytics “will prove significantly undervalued and provide sustained long-term differentiation and pricing stability.”