Mobileye price target lowered to $18 from $19 at Barclays

Barclays lowered the firm’s price target on Mobileye (MBLY) to $18 from $19 and keeps an Overweight rating on the shares. The company’s Q3 beat and 2024 guidance hold “reflects encouraging stability,” the analyst tells investors in a research note. However, the firm says the timeline for advanced product awards is still unclear, but traction is “badly needed.”