Benzinga | Sep 22, 2021 07:03AM EDT

This Analyst Sees 24% Upside In Ambarella - Read Why

* KeyBanc analyst John Vinh upgraded Ambarella Inc (NASDAQ:AMBA) to Overweight from Sector Weight with a $185 price target, implying a 24.2% upside.

* Vinh sees "multiple favorable tailwinds" related to the adoption of computer vision within the security and automotive end markets amid limited competition with the HiSilicon ban.

* Vinh also has increasing confidence in front-facing advanced driver assistance systems adoption.

* Further, with its "highly differentiated CV/AI assets" and adoption in auto tech, Ambarella represents one of the most attractive takeover targets in semiconductors, Vinh noted.

* Price Action: AMBA shares closed higher by 2.72% at $148.92 on Tuesday.