For the auto industry, the 21st century will be defined by new technology, and analysts believe that Mobileye NV MBLY 1.01% is positioned to be a major player. Barclays analyst Brian Johnson likes what he sees from Mobileye’s Q1 results, but the Mobileye story is all about the future.
“MBLY announced its EyeQ5 chip, showed progress in REM and EyeQ4, and is finalizing details around two projects for fully autonomous driving,” Johnson explained.
“This progress shows that in addition to MBLY’s solid results today, it is also accelerating its move to be at the center of the autonomous driving ecosystem.”
Johnson sees the REM project as the best chance for a near-term catalyst for the stock. He believes Mobileye will begin shedding some light on the potential business impact of the REM program within the next six months.
Barclays isn’t the only firm with a bullish take on Mobileye. Morgan Stanley analyst Adam Jonas recently named…
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