Barclays upgraded Mobileye (MBLY) to Overweight from Equal Weight with a price target of $16, down from $17, which implies 40% upside. With investor sentiment “quite depressed,” Mobileye’s risk/reward is favorable at the current level, the analyst tells investors in a research note. The firm sees opportunity for the company to show leverage to the autonomous vehicle theme. Barclays says Mobileye is well positioned as legacy car makers hedge versus Tesla.
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