Analyst Rises Price Target for Mobileye NV (MBLY)
Analyst Alexander Potter from Piper Jaffray reiterated his Overweight rating for Mobileye NV(NYSE:MBLY) and raised his price target to $60, marking a 25% increase from current levels. This increase was after a survey of 660 U.S. fleets and small businesses showed an increased favorability of advanced driver assistance systems, or ADAS. The analyst writes that 30% of these fleets, which buy between 5%-20% of “new light-and medium duty vehicles,” showed interested in increasing the amount of their ADAS purchases over the next few years. By 2022, Mobileye expects 40% of all vehicles to have ADAS functionality and that “no new players will emerge to challenge MBLY’s dominance in this particular realm.”
According to TipRanks, Potter has a success rate of 35% with an average loss of 10.6% per recommendation.