Mobileye initiated with an Overweight at JPMorgan

JPMorgan analyst Samik Chatterjee initiated coverage of Mobileye with an Overweight rating and $50 price target. The company is well positioned to deliver a "secure revenue and earnings ramp" on account of a ramp in advanced driver-assistance system revenue, Chatterjee tells investors in a research note. The analyst forecasts 38% annual revenue growth and a similar earnings trajectory as Mobileye "increasingly moves from being a camera-based ADAS supplier to a supplier of platforms for Enhanced ADAS and Autonomous Vehicles."