Shares of Mobileye (NASDAQ:MBLY) are higher in today’s trading session, which is likely attributable to new coverage from analyst Jared Maymon from Berenberg Bank, who issued a Buy rating with a price target of $44.
Maymon believes that the car industry is on the verge of a major transformation led by self-driving technology such as artificial intelligence. Given that Mobileye is considered a leader in this field, it stands to benefit from industry tailwinds.
Overall, it appears that Wall Street agrees, as MBLY stock has a Strong Buy consensus rating based on 12 Buys and one Hold assigned in the past three months. In addition, its average price target of $46.25 per share implies 25.49% upside potential, as indicated by the graphic above.
