Mobileye (MBLY): Delphi Partnership Eases Competitive Concerns - Evercore ISI
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial 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
- UPDATE: Apple (AAPL) Said to Develop Car Operating System in Canada; BlackBerry (BBRY) Said to Lose Engineers to Project - Bloomberg
- Needham & Company Raises Price Target on AXT, Inc. (AXTI) Following 3Q Beat and Guidance
- Stifel Remains Sidelined on Crane Co. (CR) Following Earnings Call
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!