Mobileye Global is drawing fresh bullish attention as automakers expand the use of advanced driver assistance and autonomous driving technology. Citi starts coverage of the company with a buy rating and says broader adoption of safety and self-driving systems could support further gains in the stock.
Highlights
- Citi initiated Mobileye Global with a buy rating and $11 price target, implying 48% upside from Thursday’s close.
- Citi highlighted Mobileye’s EyeQ system-on-chip, now in over 230 million cars, and plans for advanced system launches with automakers in 2028.
- Mobileye shares have declined 29% year to date versus a 13% gain for the S&P 500, with Wall Street consensus notably more cautious than Citi.
Citi outlines growth case for Mobileye
As reported by CNBC, Citi initiated coverage of Mobileye Global with a buy rating and set an $11 price target, implying 48% upside from Thursday's close. Analyst Michael Ward says the global auto industry continues to seek improvements in vehicle safety, with autonomous technology at the forefront of that shift over the next decade.Ward says Mobileye has been a global leader in advanced driver assistance systems, or ADAS, for 25 years and has expanded into autonomous driving technologies. He notes that the company's EyeQ system-on-chip technology has been installed in more than 230 million cars across 1,400 models worldwide.
Citi also says Mobileye's technology is likely to reach more vehicles as adoption rises for advanced systems including lidar and 360-degree vision. Those technologies support features such as steering assist, adaptive cruise control and autonomous driving, and Ward writes that Mobileye plans to launch more sophisticated systems with global vehicle manufacturers in 2028.
Market view diverges from broader analyst consensus
Citi's positive call contrasts with broader Wall Street sentiment on the stock. LSEG data shows that among 25 analysts covering Mobileye Global, 10 rate the shares buy or strong buy, while 14 have hold ratings.Mobileye shares have fallen 29% year to date, sharply underperforming the S&P 500, which is up 13% over the same period. That backdrop suggests Citi sees room for a re-rating if the company's technology gains wider deployment across the auto industry.
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