UPDATE: Mobileye N.V (MBLY) Price Target Raised to $65 at Morgan Stanley
Get Alerts MBLY Hot Sheet
Rating Summary:
23 Buy, 10 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Morgan Stanley maintained an Overweight rating on Mobileye N.V (NYSE: MBLY) and raised its price target to $65.00 (from $46.00). Analyst Ravi Shanker also raised his bull case projection on the stock to $120 amid growing confidence in the company's long-term prospects.
"Recent conversations with various industry constituents have grown our conviction that competitive threats are not lurking around the corner," said Shanker.
"How quickly and how high MBLY can build that defensive wall around its business in the next 12-18 months, will determine how high the stock goes from here. If MBLY can close the gap between its 237 models today and the ~1,100 models sold globally today (even getting to half that number should be enough as long as it includes all the major platforms and VW+Toyota), we believe the stock could approach our bull case valuation," he added.
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 $53.01 yesterday.
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