Mobileye Global (NASDAQ:MBLY) caught some upward momentum in today’s trading session. The company got new coverage from Tigress, which suggested some substantial new upside potential.
Tigress’ Ivan Feinseth initiated coverage on Mobileye Global with a Buy rating and a price target of $44. That represents a potential upside of 36.43% over current levels.
Feinseth noted that Mobileye has a great position in what’s likely to be a growth industry in the next several years – autonomous vehicles. Currently, Mobileye’s main stock in trade is semiconductors for use in such systems, and Feinseth noted that Mobileye is a leader on that front.
Further, Feinseth called Mobileye “…the only pure play to invest in these emerging technologies.” Additionally, he noted that Mobileye’s semiconductor production should give it an edge in two other markets.
Primarily, Mobileye should have an edge in robotaxi operations. However, it will also get an edge in the upcoming autonomous-mobility-as-a-service market.
Mobileye’s extensive research and development investments along these avenues could ultimately make it worth $480 billion by 2030.
Wall Street generally agrees with Feinseth’s projections. Analyst consensus surrounding Mobileye Global currently puts it at a Buy based on 10 Buy ratings and three Holds.
