NEW YORK (TheStreet) -- Shares of Mobileye NV (MBLY) are surging 5.55% to $55.95 after Citigroup (C - Get Report) raised its price target to $62 from $48, and said its thesis regarding the company landing Toyota (TM - Get Report) as a client is likely.
The firm said it believes Toyota recognizes Mobileye's technological advantages and expects more ADAS suppliers over the medium-term, one day after Citigroup attended the ITS World Congress.
Also, the the collision-avoidance technology company received a positive note from analysts at William Blair & Co. this morning and added that they believe Tesla (TSLA - Get Report) and GM (GM - Get Report) are using Mobileye for their automated highway driving assist technology.
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