Mobileye Global (MBLY)

by | Mar 8, 2023 | Daily Trade Alerts

Keep an eye on Mobileye Global (MBLY).

The last time we mentioned this stock, it traded around $27. It’s now up to $41.52 – and could see higher highs. At the time, we noted, “Goldman Sachs, for example, just initiated a buy rating with a $36 price target. Cowen initiated an outperform rating with a $35 price target. Mizuho has a buy rating with a price target of $35, believing the company could capture a potential $480 billion addressable market. Needham just initiated a buy with a $40 price target. And Raymond James has a Strong Buy rating with a price target of $50 a share.”

Now, Barclays is bullish, noting “We believe MBLY is the highest-quality pure-play in the market leveraged to the secular megatrends of active safety/autonomous vehicles, which should drive robust earnings growth through at least the end of the decade. Moreover, we remain constructive on the catalyst backdrop this year, including continued positive momentum in Super Vision awards and potential for MBLY to exceed its FY23 guidance.”

From a current price of $41.52, we’d like to see it closer to $50.

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