UBS Reiterates Neutral Rating on Mobileye (MBLY)

Mobileye Global Inc. (NASDAQ:MBLY) is one of the 10 Stocks Under $20 to Buy According to Analysts. On October 27, UBS reiterated its Neutral rating on Mobileye Global Inc. (NASDAQ:MBLY) with a price target of $17.

This decision came after Mobileye Global Inc. (NASDAQ:MBLY) shared that it has secured a new Surround ADAS award. This nomination was given by a leading Western automaker for a high-volume program. It follows a previous award the company received from Volkswagen AG.

UBS Reiterates Neutral Rating on Mobileye (MBLY)

This new award shows progress in Mobileye Global Inc.’s (NASDAQ:MBLY) long-term strategy and might help bring more Surround ADAS contracts from other non-Chinese manufacturers.

However, UBS pointed out that this program is not expected to start before 2028. This creates a long wait before the program brings in any revenue. The research firm thinks that the 2026 estimates for Mobileye Global Inc. (NASDAQ:MBLY) are now making more sense than earlier forecasts.

UBS also believes that the stock could rise in the coming weeks if Mobileye Global Inc. (NASDAQ:MBLY) can announce which automaker is involved.

Mobileye Global Inc. (NASDAQ:MBLY) is an autonomous driving company that develops advanced driver-assistance systems (ADAS) and autonomous driving technologies.

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