Mobileye (MBLY) stock has been in a sharp downtrend this year, but a senior Citi analyst believes its story moving forward will be a different one. Analyst Michael Ward assumed coverage of MBLY this morning with a “Buy” rating and an $11 price target, which signals potential upside of nearly 60% from current levels.
His bullish call brings much-needed positivity to Mobileye shares, currently trading at a price that trails their year-to-date high by more than 50%.
