Analyst Aaron Rakers of Wells Fargo maintained a Buy rating on Mobileye Global, Inc. Class A (MBLY – Research Report), retaining the price target of $18.00.
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Aaron Rakers has given his Buy rating due to a combination of factors, including the promising developments in Mobileye’s partnership with Lyft. The announcement that Lyft plans to introduce Mobileye-powered autonomous taxis in Dallas by 2026, with a vision to expand across multiple cities, serves as a strong validation of Mobileye’s technology. This collaboration is further strengthened by the involvement of Japanese firm Marubeni, which will own and finance these vehicles.
Moreover, Mobileye’s strategic partnerships, such as its close ties with Volkswagen, and the company’s ambitious plans for its Drive platform, play a crucial role in the positive outlook. At the recent investor day, Mobileye outlined the timeline for its Drive platform, highlighting significant awarded units and potential high-volume RFQs, which underscores a robust revenue projection. These elements collectively position Mobileye favorably against consensus estimates, further reinforcing the Buy rating.
In another report released on February 3, Barclays also maintained a Buy rating on the stock with a $22.00 price target.