Mobileye, Intel And BMW? Evercore Talks Plausibility

On Wednesday, Mobileye NV MBLY, Intel Corporation INTC and BMW announced a news conference to be held Friday.

Evercore analysts maintain a Buy rating on Mobileye, with a price target of $60.

The Deal

“The media, citing anonymous sources, is reporting that the three companies are going to unveil a partnership to develop autonomous cars,” the analysts mentioned.

Related Link: Mobileye Just Scored A Huge Partnership

Although the companies did not provide any details, the analysts believes there is sufficient context to make a reasonable estimation of what to expect.

“We note that this would also be a huge boost for all Mobileye-associated tier 1s, as full autonomous content per vehicle could potentially be 10x basic-level AEB,” the analysts added.