Shares of Mobileye (NASDAQ:MBLY) are lower in today’s trading session despite new coverage from analyst Louis Miscioscia of Daiwa Securities, who issued a Buy rating with a price target of $50 per share.
Miscioscia cited Mobileye’s $17 billion pipeline as evidence of its early leadership in the autonomous driving and driver assistance systems market. In addition, the overall industry is expected to see strong growth as it is “being accepted by safety agencies, auto companies, and eventually the public.”
Overall, MBLY stock has a Strong Buy consensus rating based on 13 Buys and two Holds assigned in the past three months. In addition, its average price target of $48.29 per share implies 7.41% upside potential.