Several Analysts Initiate Coverage On Mobileye Following End Of Quiet Period

Just as advanced software has changed the way we use computers and smartphones, software will soon change the way we drive. Autonomous driving systems are slowly gaining presence in the automobile industry. In fact, Morgan Stanley estimates by 2022, 50 percent of new cars sold globally will have some form of autonomous system.

Currently, Mobileye MBLY is at the forefront of this global trend. Based on analysts estimates, Mobileye currently maintains roughly 80 percent market share in the autonomous driving industry.

It is clear that analysts agree on Mobileye’s early leadership in the industry, and its position to capitalize on the movement to vision systems in vehicles.

Mobileye received coverage from seven analysts firms following conclusion of the quiet period:

• Citi - Buy rating, with $48 price target.

Itay Michaeli of Citi stated, “Mobileye is at the center of arguably the most powerful automotive megatrend in history.”

• Barclays - Overweight rating, with $49 price target

“Although valuation is rich (our valuation implies a 40 P/E in 2020), it is justified, in our view, as MBLY is the only 'pure play' on active safety and stands to benefit as the secular
shift towards ADAS occurs.” stated, Brian Johnson of Barclays.

• Raymond James - Outperform rating, with $46 price target
• Morgan Stanley - Overweight rating, with $46 price target
• Wells Fargo - Outperform rating
• William Blair - Outperform rating
• Deutsche Bank - Buy rating, with $45 price target
• Baird - Neutral rating
• Goldman Sachs - Neutral rating, with $45 price target

Shares of Mobileye are currently trading at $41.40 up 8.4 percent