Daiwa downgraded Mobileye to Neutral from Buy with a price target of $17, down from $35. The analyst cites the company’s “materially lower” second half of 2024 outlook for the downgrade. Mobileye took down expectations in early 2023, again in early 2024, “and now again,” the analyst tells investors in a research note. Part of the issue with China is that there are many lower cost competitors who are not as committed to testing and exceptionally low failure rates, says the firm.
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Read More on MBLY:
- Mobileye price target lowered to $16 from $24 at JPMorgan
- Mobileye upgraded to Equal Weight from Underweight at Morgan Stanley
- Mobileye downgraded to Equal Weight from Outperform at Fox Advisors
- Zeekr and Mobileye expand partnership in China
- Mobileye raises 2024 revenue view to $1.6B-$1.68B from $1.83B-$1.96B
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