Deutsche Bank analyst Rod Lache reiterates a Buy rating on Mobileye (MBLY) with a $72 price target following the company's Q1 results.
The stock closed yesterday down 87c to $35.67. The results were in-line and the company maintained its full year revenue growth outlook of 40%, Lache tells investors in a research note. He believes Mobileye made a number of "new, and very positive" disclosures regarding its prospective growth opportunities. They include the disclosure that four-to-five additional manufacturers appear likely sign on to its REM mapping platform by year-end 2016 and hints that there may be new, previously undisclosed revenue streams to be derived from platform, the analyst writes.
Mobileye also disclosed that it has been officially engaged for its first two Fully Autonomous Vehicle Production contracts, from two separate manufacturers, Lache adds.
The analyst believes the disclosures support his bullish view on Mobileye.
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