Piper Sandler raised the firm’s price target on Mobileye (MBLY) to $17 from $16 and keeps a Neutral rating on the shares. The company has a “lucrative” base business that we think provides “rock solid” valuation support for the shares, the analyst tells investors in a research note. However, Piper thinks Mobileye’s current valuation hinges on its next-generation products.
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