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Ambarella (AMBA) is on track for at least 20% annual sales growth based on its core markets alone, while other large, long-term growth markets offer even more potential, Canaccord Genuity analyst Matt Ramsay said in a research report Tuesday. Ramsay initiated coverage of Ambarella with a buy rating and a 66 target price. Ambarella stock was flat in afternoon trading in the stock market today, near 51. The IBD Leaderboard stock has climbed 43% over Scalper1 News
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