Mobileye Global shares are trading lower after Raymond James downgraded the stock from Strong Buy to Outperform and lowered its price target from $50 to $48.
Portfolio Pulse from Benzinga Newsdesk
Raymond James downgraded Mobileye Global from Strong Buy to Outperform and reduced the price target from $50 to $48, causing MBLY shares to trade lower.
January 03, 2024 | 2:22 pm
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Mobileye Global's stock is trading lower following a downgrade by Raymond James from Strong Buy to Outperform and a price target reduction from $50 to $48.
The downgrade by Raymond James suggests a less bullish outlook on MBLY, which typically leads to negative investor sentiment in the short term. The reduction in the price target further reinforces the expectation of a lower valuation, which can result in a decrease in the stock price as the market adjusts to the new analyst expectations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100