Mobileye price target raised to $9 from $8 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Mobileye (MBLY) to $9 from $8 and keeps a Neutral rating on the shares after its Q1 earnings beat. The firm expects Mobileye revenue growth to accelerate in the future as it ramps programs with its surround ADAS, hands-free highway solutions, advanced consumer products, and its robo-taxi solution, the analyst tells investors in a research note. These more advanced products carry premium average selling prices, with Drive also having a recurring revenue component, the firm added.