Mobileye (MBLY) is eyeing a new high. The Israeli maker of video-based driver assistance systems climbed in above-average volume in the stock market today, hitting an intraday high of 60. That puts the stock just pennies below its all-time high of 60.28, reached last October. Shares are now in profit-taking territory, which means that the stock is more than 20% extended past a 48.88 buy point from a cup-with-handle base, which it initially cleared
Mobileye (MBLY) jumped to a nine-month high Thursday on some positive analyst comments. Baird upgraded Mobileye to outperform, citing the growth of driver-assistance system adoption. Baird also sees a favorable regulatory climate and new design wins for the camera-based systems and software maker. The analyst also raised its price target on Mobileye by 26 to 73. Shares are currently trading around 57. Mobileye gapped up 6% to 57.28 in heavy volume
Citigroup raised its price target on Mobileye (MBLY) on expectations the supplier of camera-based technology for self-driving cars could gain even more market share by adding new customers such as Volkswagen (VLKAY) and Toyota (TM). Israel-based Mobileye is a leader in advanced driver assistance systems (ADAS), whose chips and software take in data from car cameras. Its EyeQ chips, for example, enable cameras to scan the area around a vehicle and