Mobileye (MBLY): Delphi Partnership Eases Competitive Concerns - Evercore ISI
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Evercore ISI analyst, Chris McNally, reiterated his Buy rating on shares of Mobileye N.V (NYSE: MBLY) after the company, in conjunction with Delphi (NASDAQ: DLPH) announced an ambitious partnership for the co-development of a complete L4/L5 consumer solution by 2021/22.
The analyst stated "We think this news is positive for both companies as it brings investor clarity to the collaborative rather than competitive efforts of MBLY and DLPH (a topic of recent bull/bear debate). This collaboration should have been broadly expected post the MBLY/BMW/INTC announcement and DLPH's Q2 comments on increasing industry standards in L4. DLPH is one of, if not now, MBLY’s strongest ADAS tier 1 partner with strong capabilities in radar (RACam fusion system with MBLY), lidar (equity investment in Quanergy), ECU/MDU integration, and next-gen vehicle-level algorithms (acquired Ottomatika). DLPHdriven investment will broaden the addressable base of MBLY OEMs to work on an open industry L4 standard, allowing smaller OEMs a viable and similar timeline (2022+) to fully autonomous consumer (unrestricted, non-geofenced) vehicles".
No change to the price target of $60.
Shares of Mobileye N.V closed at $46.56 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Starts Mobileye N.V (MBLY) at Buy
- Dougherty & Co Starts Quality Systems (QSII) at Neutral
- FBR Capital Cuts Price Target on Express (EXPR) Following 3Q EPS Miss
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!