) is a "best-in-any-class story" with a "skewed" risk-reward profile now that technical headwinds have passed. "For the past 3 months, the stock has been dominated by technicals around investor positioning, lockup expiry and the secondary offering," Shanker wrote. "With that out of the way, we believe investors will finally start to focus on the true near-term earnings power, long-term growth potential and separate the talk from the action around competition." Shanker noted that Mobileye's story has been gaining momentum and that winning 100 percent of RFQs in 2014 was "truly impressive." The analyst added that the momentum story continued into 2015 as the company announced a 2018 program win for its EyeQ4/EyeQ4/autonomous application and a new tier-one partnership with

Shanker continued that the company's 2015 developments are "significant from a competitive standpoint" and that its competitors have "essentially given up" trying to catch up with them in the mono/ADAS market. The analyst concluded by noting that the company's 2015 guidance is "very conservative" and if it can push consensus estimates higher, the bull case will be validated in the near-term. In addition the company stands out from any company in any sector given the possibility of a 50 percent revenue compounded annual growth rate through 2020, 75 percent gross margins, 50 percent revenue to free cash flow conversion and no gross debt. Shares are Overweight rated with a $65 price target.