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Citi: Mobileye Development A 'Clear Positive'

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  • Mobileye NV (NYSE: MBLY) shares have lost 31 percent over the last six months.
  • Citi analysts commented on the development of a camera-based HD map platform, ahead of Mobileye’s CES presentation.

While more details are awaited from Mobileye’s CES presentation, the development of a camera-based HD map platform seems to be “a clear positive,” the analysts said.

There are potential ASP benefits. Moreover, the need to equip many vehicles in order to create an adequate HD map has market share implications. Apart from these, the analysts expressed curiosity regarding whether Mobileye would also serve as “a data aggregator for all OEMs deploying REM technology.”

In 2015, a consortium of automakers, including BMW, Audi and Daimler, agreed to purchase Nokia’s HERE digital mapping service for ~$3 billion. Now Mobileye has launched REM with GM, VW and “another expected comparably-sized automaker.”

The analysts further wrote, “Given the growing importance of HD maps we view this rapid launch as a positive development not previously baked into the story."

 

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Posted-In: CitiAnalyst Color

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