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Fly News Breaks for September 20, 2016
MBLY
Sep 20, 2016 | 08:33 EDT
As noted earlier, SunTrust initiated coverage of Mobileye with a Buy rating and a $63 price target. Analyst William Stein thinks that the company "will sustain its rapid revenue growth and high margins through 2019." Stein says that Mobileye only needs to retain a "modest share" of the autonomous driving market to enable its revenue to continue to quickly increase. The analyst thinks that the company's 2019 guidance, which implies compound annual revenue growth of 46%, is "reliable," partly due to "predictable" selling prices and "predictable design ramps."
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