Ambarella shares surge after analyst upgrades stock and forecasts 50% upside from current levels.
Ambarella (AMBA) stock jumped in Tuesday trading after Rosenblatt Securities named it a top pick for the second half of 2026. Analyst Kevin Cassidy initiated coverage with a buy rating and a $120 price target, implying roughly 50% upside from recent levels.
The upgrade follows Ambarella’s fiscal first-quarter results, which narrowly exceeded estimates on May 28. The company, specializing in AI chips for edge computing, has seen growing demand for its semiconductor solutions in automotive and industrial applications.
Shares climbed sharply in afternoon trading, reflecting investor response to the bullish outlook.