Mobileye downgraded to Neutral from Outperform at Mizuho

Mizuho downgraded Mobileye to Neutral from Outperform with a price target of $13, down from $30. The firm sees challenges for Mobileye with weaker EyeQ and SuperVision expectations, and limited catalysts over the next 12-18 months. Electric vehicle and auto sales are slowing in the company’s key U.S. and European growth markets, the analyst tells investors in a research note. Mizuho also sees rising competition and share loss in China for Mobileye.