The Israeli driving assistance tech stock, MobilEye (MBLY) rose since its IPO, only to fall back a bit, and rise again on Tuesday on news that it was signing a deal with Toyota, one of the last remaining automakers to ink a deal with the tech company. A Citigroup analyst, Itay Michaeli, raised price targets from $48 to $62, and says he sees the Toyota deal as a “major milestone for Mobileye.” In Detroit, Toyota unveiled its Highway Driving Assist System and Intelligent Transport Systems, and it is using MobilEye to drive its innovation. Morgan Stanley analyst Ravi Shanker raised estimates for MBLY from $46 to $65, and said “competitive threats are not lurking around the corner.”
Tom Barrack, CEO of Colony Corp. had some positive things to say about real estate site Zillow (Z), and thinks the site will have a positive impact on the industry. Stephens & Co. upgraded the stock to Overweight.
DryShips (DRYS) rose 5.23% as Deutsche Bank initiated coverage with a Buy rating and a price target of $5. Ocean shipping is expected to be the main means of transporting commodities and oil, and analyst Amit Mehrota said volume could double in the ensuing years.
American Eagle (AEO) was upgraded by Stephens & Co. from Equal Weight to Overweight on improved product offerings and successful management of inventory.