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Mobileye Global drops even as Tigress starts with buy rating, up 38%


Latest consumer technology products on display at the annual CES in Las Vegas

Mario Tama

Mobileye Global (NASDAQ:MBLY) the stock gave up previous gains and fell more than 1% on Monday when investment firm Tigress began covering the semiconductor company, noting its “leading position” in both support and support. Advanced driver assistance and autonomous vehicle technology will help it capitalize on the “big market opportunity” in front of it.

Analyst Ivan Feinseth started Mobileye (MBLY) with a buy rating and $44 price target, implying a roughly 38% increase from current levels, noting that the global auto industry is placed under a “massive acceleration shift” due to both electric vehicles as well as advanced driver assistance systems, or ADAS, and autonomous vehicles, will advance autonomous mobility as a service and the robotaxi industry.

“Mobileye’s recent IPO, which frees it from being embedded in a major semiconductor company, makes it the only pure game to invest in these emerging technologies,” Feinseth wrote in a note. note to customers, while adding that its peers, Nvidia (NVDA) and Qualcomm (QCOM), are both “remarkable” but not entirely focused on the automotive sector.

mobile (MBLY) a part of detached by Intel (NASDAQ:INTC) in October as the Pat Gelsinger-led company continues to strengthen its balance sheet and focus on its core initiatives.

Feinseth added that Mobileye’s (MBLY) “substantial” investments in research and development, as well as first-mover advantages, product portfolio and relationships with automakers will put it well positioned to capture market share. market sector that analysts believe could be worth as much as $480 billion by the end of the decade.

Last month, Wall Street research firms started reporting on Mobileye (MBLY), with highly active analysts of the Intel subsidiary.

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