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Mobileye price target raised to $45 from $43 at Needham
The Fly

Mobileye price target raised to $45 from $43 at Needham

Needham analyst Rajvindra Gill raised the firm’s price target on Mobileye to $45 from $43 and keeps a Buy rating on the shares after its Q4 earnings beat. The company’s average selling prices "jumped meaningfully" in the quarter as demand for Supervision – SV, eyes on, hands off – technology continues to proliferate, the analyst tells investors in a research note. Near term revenue will be challenged by supply constraints and conservative OEM outlooks, but Needham is "more confident" in the Mobileye story as orders underpin a growing pipeline at higher selling prices.

Published first on TheFly

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