Bank of America-Merrill Lynch is bullish on technology stocks, saying the sector will gain from global economic growth as well as growth in such markets as cybersecurity, the Internet of Things, cloud computing, social media and Big Data. “Technology, the largest sector in the stock market, has underperformed the S&P 500 this year, but has generated a positive return and is the fourth-best performing,” said Bank of America in a research report.
Ambarella (AMBA) got a price target increase Tuesday from an analyst who is bullish about its technology differentiation, VisLab acquisition and opportunities in the drone market. “We believe the drone market should roughly double each of the next couple years, growing from 1.5 million units in 2014 to 3.2 million, 5.9 million and around 10 million units from 2015 to 2017,” Canaccord Genuity analyst Matthew Ramsay said in a research report
GoPro (GPRO) and its big chip supplier Ambarella (AMBA) were boosted in the stock market today by two bullish analyst reports. Barclays upgraded the action camera maker to overweight from equal weight. The analyst noted GoPro’s execution with the Hero 4 and the Session camera as well as new developments with 360 degree video, drones and better software. Barclays also raised the stock’s price target to 65 from 50. GoPro is currently trading around