Mobileye ‘ahead of the curve,’ Deutsche Bank says, rating the stock a buy

Mobileye Global Inc.
MBLY,
+8.00%
is “ahead of the curve,” Emmanuel Rosner at Deutsche Bank said in a note Wednesday, starting his coverage of the stock with a buy rating and a $48 price target. Mobileye’s technology is likely to capture “meaningful share of the fast-growing autonomous-driving market, much the same way it has become dominant in ADAS,” Rosner said. Moreover, “Mobileye is at the start of considerable revenue and earnings acceleration … as auto makers and mobility providers adopt its cost-effective turnkey solutions which scale up to ever-higher levels of autonomy.” Deutsche’s price target implies a 42% upside over Wednesday’s prices. Mobileye became a public company in October, after Intel Corp.
INTC,
-2.60%,
which bought it in 2017, spun it off.