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 story : Mobileye stock surges after 2 more analysts start coverage with bullish ratings #FinanceUSA #StockMarketNEWS Shares of Mobileye Global Inc. surged 4.5% in premarket trading Monday, after more analysts

@stockMarketNEWS 6 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Mobileye stock surges after 2 more analysts start coverage with bullish ratings #FinanceUSA #StockMarketNEWS
Shares of Mobileye Global Inc. surged 4.5% in premarket trading Monday, after more analysts started coverage of the autonomous driving spinoff of Intel Corp. with bullish outlooks. Raymond James analyst Brian Gesuale initiated Mobileye with a strong buy rating and stock price target of , which implies 75.9% upside from Friday's closing price of .42. "A combination of fast-paced ADAS
adoption, deeper penetration of a B TAM
, and rebound in auto production as supply chain constraints dissipate provide the foundation for ~40% sales CAGR from 2022-26," Gesuale wrote in a note to clients. Mizuho's Vijay Rakesh started coverage of the stock at buy with a price target, citing the company's market share of about 70% and growing of camera-based ADAS with an artificial intelligence (AI)-driven training platform. Of the 11 analysts surveyed by FactSet covering the stock, which went public on Oct. 26, there are now nine who are bullish and two who are neutral. Shares of Intel, which owns 100% of the 750.0 million Class B shares and 99.4% of the voting power -- there are 46.3 million Class A common shares outstanding -- slipped 0.5% in the premarket, while futures for the Dow Jones Industrial Average eased 25 points, or 0.1%.


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