Connect with us

Hi, what are you looking for?

Jewish Business News

Financial Research

Analysts Boost Collision Prevention Mobileye to Record Heights

Mobileye

Vehicle collision prevention developer Mobileye (NYSE: MBLY) saw its share price soar to new heights yesterday on Wall Street after nine underwriters initiated coverage of the company. Of the nine underwriters that initiated coverage, seven rated the share “Outperform” or “Buy” while two initiated as “Neutral.” One analyst described Mobileye as “the car industry’s iPhone moment.”

Jerusalem-based Mobileye saw its share price rise 8.5% yesterday to $41.43, giving a market cap of $1.33 billion. In after-hours trading the share price rose a further 1.5% to $42.08. Morgan Stanley (NYSE:MS) initiated coverage with an “Overweight” rating and target price of $46, while Goldman Sachs (NYSE:GS) initiated coverage with a “Neutral” rating and $43 target price.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Trading volume was exceptionally high with 8.26 million shares changing hands yesterday.

Mobileye began trading on the NYSE at the start of the month after raising $890 million at a share price of $25, well above the $600 million it had originally planned to raise.

Morgan Stanley analyst Ravi Shanker observed that he expects about half of all new cars sold worldwide by 2022 to have some sort of advanced driver-assistance or autonomous system. Mobileye has about 80% of the vision-system market now, with sights on 237 car models from 20 manufacturers by 2016, he added.

Published by Globes [online], Israel business news – www.globes-online.com

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.