Wolfe upgrades Mobileye to Outperform with concerns played out

Wolfe Research analyst Shreyas Patil upgraded Mobileye to Outperform from Peer Perform with a $46 price target. The company’s long-term story "appears even more compelling" following the Q1 results, the analyst tells investors in a research note. The firm says the outlook for advanced vehicle automation "may be even stronger" than expected and that its near-term concerns have played out. It upgrades Mobileye following the recent selloff.