Investors should consider buying shares of Mobileye Global, a company developing autonomous driving technology for cars, Goldman Sachs said. Analyst Mark Delaney initiated coverage of Mobileye Global with a buy rating, saying the maker of self-driving car technology could gain market share in a competitive market. The analyst’s 12-month price target of $36 implies a roughly 26% upside from Friday’s closing price. Shares jumped 2% in premarket trading on Monday. “We believe Mobileye is a leading automotive technology manufacturer for ADAS [advanced driver assistance systems] and AV [autonomous vehicle] applications and we believe the company is well-positioned for growth given its AI vision/capability applicable to both ADAS and AV, its ability to provide end-to-end solutions and its strong market share,” Delaney wrote in a note on Monday. investment firms, including Goldman Sachs, began covering Mobileye about one month after the company’s initial public offering, when it was floated by Intel. The systems software company made its public debut on October 26 with a share price of $21. Since then, the stock has jumped to $28, up roughly 35%. Intel will continue to retain control of Mobileye, which it acquired in 2017 in a $15.3 billion deal. Previously, Mobileye was founded in 1999 and went public in 2014. The analyst outlined several reasons for endorsing the company, including strong chips and sensor software that can scale efficiently and help Mobileye gain market share. “We expect a combination of strong unit growth and higher ASPs to drive a mid-30% revenue CAGR through 2026, with about a third from higher units and two-thirds of sales growth from unit revenue increases,” Delaney wrote. Certainly, there are key risks for Mobileye, which will have to gain share in a competitive market that includes Qualcomm and Nvidia as major players. It will have to deal with any lingering tensions between the U.S. and China that could result in potential trade restrictions. Among other firms that started coverage of Mobileye this week , belongs to Morgan Stanley, which gave the stock an equal rating and a $32 price target. Citi gave it a buy rating, as did Mizuho Securities. —CNBC’s Michael Bloom contributed to this report.