Mobileye downgraded to Neutral from Buy at UBS

UBS downgraded Mobileye to Neutral from Buy with a price target of $14, down from $20. The company holds long-term value as a partner for non-Chinese automakers, but a return to growth is further out, and 2025 looks to be a transition year, the analyst tells investors in a research note. UBS believes material negative revisions are needed to consensus forecasts. While investors seem to understand this, the stock “could tread water” until the “reset” is complete, and Intel’s ownership “adds another layer of uncertainty,” says the firm.