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UPDATE: Morgan Stanley Initiates Coverage On Mobileye

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Analysts at Morgan Stanley initiated an Overweight rating on Mobileye (NYSE: MBLY) Tuesday.

Mobileye is a software development company that produces camera-based advanced driver assistance systems (ADAS). Mobileye's proprietary vision algorithm allows the car to see and interpret its surrounding environment, making it a key enabler for cars that will soon drive themselves.

Ravi Shanker outlined three reasons for the initiation.

  • By 2022, 50 percent of new cars sold globally will have some form of autonomous system.
  • Mobileye early leader with deep penetration in the industry, nearly 80 percent market share in the vision market.
  • Unparalleled growth rate of 50 percent revenue compared to other stocks in the space.

Mobileye traded recently at $40.41 up 5.8 percent.

Latest Ratings for MBLY

DateFirmActionFromTo
Jan 2017JefferiesInitiates Coverage OnBuy
Jan 2017Monness Crespi HardtInitiates Coverage OnBuy
Dec 2016BMO CapitalInitiates Coverage OnMarket Perform

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