Out of the station and on the self-financing track
Foresight Autonomous Holdings (FRST) shares have performed very strongly over the last month. Key influences have been the high valuation implied by the Intel acquisition of Mobileye, the successful completion of a round of equity fund-raising ahead of the group’s planned Nasdaq listing and positive feedback from Deutsche Bahn’s testing of Rail Vision’s safety systems. Positively, the Q117 equity issues of NIS42.7m ($11.7m) put the company on track for self-financing and we have also increased our earnings forecasts to reflect what we see as Rail Vision’s improved near-term order prospects, boosting our DCF valuation from NIS3.11 to NIS3.30 per share.
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