UPDATE: Deutsche Bank Initiates Ambarella at Buy; Video Creation Leader

Deutsche Bank initiated coverage on Ambarella AMBA with a Buy rating and a $10 price target. Deutsche Bank said, "AMBA is a leader in video content creation, sharing and display through its highly integrated and market leading SoCs. While the form-factors consumers use to create video are likely the exhibit rapid change, the trend toward everincreasing video creation is likely to remain robust. Consequently, we initiate with a Buy rating and a $10 P/T as we see AMBA as being uniquely positioned to benefit from this trend." Ambarella closed at $7.70 on Friday.