Canaccord Genuity analyst George Gianarikas has maintained their bullish stance on MBLY stock, giving a Buy rating yesterday.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
George Gianarikas has given his Buy rating due to a combination of factors that highlight Mobileye Global, Inc.’s potential in the autonomous vehicle market. The analyst acknowledges the challenges faced by the company in the past year, such as earnings revisions and debates over autonomous driving systems. However, he sees Mobileye as a key player in the emerging robotaxi market, especially following significant advancements by competitors like Waymo.
Mobileye’s recent win with its imaging radar and the positive experience of testing Mobileye-powered robotaxis in Austin further reinforce Gianarikas’s confidence in the company. He notes that while Tesla is a dominant force in the autonomous driving space, the rest of the ecosystem remains fragmented, providing an opportunity for Mobileye to establish itself as a leader. With a strong history in auto-grade solutions and a diverse range of offerings, Mobileye is well-positioned to support OEMs in their autonomous vehicle ambitions.
Gianarikas covers the Industrials sector, focusing on stocks such as NuScale Power, Surf Air Mobility, Inc., and Arq Inc. According to TipRanks, Gianarikas has an average return of -2.6% and a 37.40% success rate on recommended stocks.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $18.00 price target.