Needham analyst Quinn Bolton has maintained their bullish stance on MBLY stock, giving a Buy rating on April 17.
Quinn Bolton has given his Buy rating due to a combination of factors that underscore Mobileye Global, Inc. Class A’s strong market position and promising growth trajectory. Firstly, the company has reported a quarter that met expectations, which is particularly reassuring given the broader concerns within the automotive semiconductor market. Additionally, Mobileye has been successful in expanding its pipeline with advanced product wins, exceeding what was anticipated for the quarter, further solidifying its competitive edge in the industry.
The increase in active discussions with original equipment manufacturers (OEMs), from 11 to 14 since the last quarter, across various regions, technologies, and product levels, points to a growing confidence in Mobileye’s offerings, especially its SuperVision technology. Bolton’s adjustments in financial projections, with a slight deferral of revenue, and a conservative stance on gross margin increases for SuperVision products, have not affected the positive outlook, leaving the price target steady. This careful analysis supports the belief that Mobileye’s strategic positioning will lead to sustained value creation, justifying the Buy rating.
In another report released on April 17, RBC Capital also maintained a Buy rating on the stock with a $39.00 price target.
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Mobileye Global, Inc. Class A (MBLY) Company Description:
Mobileye Global Inc engages in the development and deployment of ADAS and autonomous driving technologies and solutions. It is building a portfolio of end-to-end ADAS and autonomous driving solutions to provide the capabilities needed for the future of autonomous driving, leveraging a comprehensive suite of purpose-built software and hardware technologies. Its solutions comprise of Driver Assist, Cloud-Enhanced Driver Assist, Mobileye SuperVision Lite, Mobileye SuperVision, Mobileye Chauffeur, Mobileye Drive, Self-Driving System & Vehicles. It also provides data services to Expedite Maintenance Operations with AI-Powered Road Survey Technology.
