CLSA Recommends Buying Mobileye (MBLY) Ahead of Earnings and Possible VW REM Deal

Mobileye N.V (NYSE: MBLY) is gaining Friday (3.5%) with CLSA analyst Emmanuel Rosner saying they are buyers ahead of 3Q earnings on 11/15, believing MBLY could concurrently announce a much-anticipated REM deal with Volkswagen.

Rosner commented, "With the stock down 20% since late summer as delays and competitive announcements emboldened skeptics, we see a favorable risk/reward set-up for MBLY from here. A deal could confirm REM’s value as a moat and help quantify the material revenue streams it creates. On the back of it, we continue to expect up to 10 automakers partnering on REM, and licensing deals with mapping companies."

The firm maintained a Buy rating and price target of $58.00

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 $37.49 yesterday.

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