In an April 3 research note, Roth MKM analyst Suji Desilva commented on Arbe Robotics Ltd.'s (ARBE:NASDAQ) high-tech radar system for cars called 4D imaging radar.
Desilva stated, "We believe that ARBE’s advanced 4D imaging radar can gain share in the existing multi-billion-dollar automotive radar market and grow in the diversifying non-automotive markets as well." They noted that it is promising to see that the company is working with several potential customers who are interested in using their 4D imaging radar technology in 2024.
The report noted that Desilva believes Arbe is "well positioned for advanced radar opportunities," spanning various end market and geographic opportunities in CY24.
Arbe has been working with well-known Chinese car part makers for a long time. Desilva thinks that these partnerships could lead to success as Chinese automotive companies look to use high-quality radar technology in their vehicles. Desilva also pointed out that Arbe "remains engaged with multiple global auto OEMs that are increasingly focusing on advanced ADAS platforms and models."
With this, Desilva maintained their Buy rating and increased their price target on the company from US$2 to US$4.
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Disclosures for Roth MKM, Arbe Robotics Ltd., April 3, 2024
Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Disclosures: Within the last twelve months, ROTH Capital Partners, or an affiliate to ROTH Capital Partners, has received compensation for investment banking services from Arbe Robotics, Ltd.. ROTH makes a market in shares of Arbe Robotics, Ltd. and as such, buys and sells from customers on a principal basis. Shares of Arbe Robotics, Ltd. may be subject to the Securities and Exchange Commission's Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.
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