Mobileye price target raised to $39 from $36 at Baird

Baird analyst Luke Junk raised the firm’s price target on Mobileye to $39 from $36 and keeps an Outperform rating on the shares. The analyst said guidance contemplates both elevated outgrowth in EyeQ sales and even stronger Mobileye SuperVision volumes. Junk said he remains most focused on upside from the company’s premium ADAS offerings, and has increased conviction in estimates overall post-3Q as excellent top-line growth is funding current R&D investments.