Mobileye: BofA starts to monitor with neutral rating

(CercleFinance.com) - On Monday BofA began to monitor the Mobileye stock, on which it has a "neutral" rating and a target price of 34 dollars.


In a report, the broker describes a "formidable" provider of advanced driver assistance systems (ADAS) and autonomous driving hardware and software.

It also praises the "cutting-edge" technology developed by the Intel subsidiary, its strong position in driver assistance (with a 70% market share) and its self-financing capacity.

The analyst nevertheless explains that he fears an increasingly competitive environment in advanced driver assistance systems and autonomous driving, also expressing concerns about the confusion that still surrounds the implementation of level 4 automated driving technology.

Since its IPO in late October (spin off from Intel), Mobileye's share price has risen 31%: it currently has a market capitalisation just of about 22 billion dollars.


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