Why Mobileye Global Inc. (MBLY) Received Analyst Approval This Week?

We recently published a list of 10 Stocks That Received Analyst Approval This Week. In this article, we are going to take a look at where Mobileye Global Inc. (NASDAQ:MBLY) stands against other stocks that received analyst approval this week.

The US market performance in the last week was quite bullish, with the S&P, DOW, and NASDAQ boasting weekly gains of 3.71%, 3.73%, and 3.84% respectively. The week marked the last full week of the outgoing Democratic government, with Donald Trump set to be sworn in early next week.

Just like the last time he became President, Donald Trump is set to make some drastic changes once he takes over. His energy policy and stance on crypto will continue to be of focus for most traders. During the outgoing week, a lot of companies received the backing of Wall Street analysts, among them quite a few energy and automobile companies.

We looked at a few of those companies that received a boost from analysts this week. To come up with the list of 10 stocks that received analyst approval this week, we only considered companies with a market cap of at least $1 billion.

A driverless vehicle navigating city traffic, equipped with ADAS and safety features.

Mobileye Global Inc. (NASDAQ:MBLY)

Mobileye Global Inc. is a global provider of autonomous driving solutions and advanced driver assistance systems (ADAS). These are systems that utilize cameras or sensors to help drivers react to different types of hazards on the road. The stock was just initiated by Oppenheimer with an Outperform rating. The target price assigned to the stock is $28.

According to Oppenheimer analysts, the light-duty vehicle industry is migrating to vehicles with lower emissions, and as autonomous driving becomes the norm, this migration will accelerate. They believe once that shift happens, MBLY will be a key part of most of the legacy OEMs that will meet the demands of this market.

MBLY stock has been down 44% in a year and a positive outlook like the one Oppenheimer is suggesting could finally change the shareholders’ fortune. The stock is already up in the last 5 days of trading and looks to be picking up momentum.

Overall, MBLY ranks 4th on our list of received analyst approval this week. While we acknowledge the potential of MBLY as a leading AI investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as MBLY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.