Mobileye (MBLY) Defended at Wells Fargo

Wells Fargo maintained an Outperform rating on Mobileye N.V (NYSE: MBLY). The stock declined after Freescale Semi (NYSE: FSL) said in a press release it was introducing the "groundbreaking S32V vision microprocessor – the first automotive vision system-on-chip (SoC) with the requisite reliability, safety and security measures to automate and ‘co-pilot’ a self-aware car."

Analyst Richard M. Kwas noted the press release didn't mention an OEM customer for the chip, and he said this was "interesting since the chip will be available this summer."

Kwas doesn't think it will be easy to gain entrance into the ADAS supply chain. In his view, Mobileye is likely to "be noisy in the near term" ahead of a secondary offering, but he continues to sees significant upside potential.

For an analyst ratings summary and ratings history on Mobileye N.V click here. For more ratings news on Mobileye N.V click here.

Shares of Mobileye N.V closed at $35.48 yesterday.

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