Mobileye assumed with a Buy at Loop Capital

Loop Capital analyst Gary Mobley assumed coverage of Mobileye (MBLY) with a Buy rating and $20 price target up from $16 prior. Investors should overweight stocks/companies with high exposure to the automotive end market and overweight in the companies exposed to the fastest growing automotive trends like powertrain electrification and AD/ADAS, with Mobileye seen as “purely aligned” with the deeper penetration of ADAS/AV within the light and commercial vehicle markets, the analyst tells investors in a research note.