Mobileye Global Analyst Blames Lack Of Clarity Around OEM Wins For Downgrade
Portfolio Pulse from Priya Nigam
Mobileye Global Inc (NASDAQ:MBLY) shares rose despite a downgrade by RBC Capital Markets due to uncertainty around OEM wins. Analyst Tom Narayan downgraded the stock from Outperform to Sector Perform, reducing the price target from $24 to $11. Concerns include OEM guidance cuts and potential headwinds in China.

October 15, 2024 | 3:39 pm
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Mobileye Global's stock was downgraded by RBC Capital Markets due to uncertainty around OEM wins and potential headwinds in China. The price target was reduced from $24 to $11.
The downgrade by RBC Capital Markets is significant as it reflects concerns about Mobileye's ability to secure OEM wins in the near term, which is critical for its growth. The reduction in price target from $24 to $11 indicates a bearish outlook. Additionally, the mention of potential headwinds in China adds to the negative sentiment. Despite a short-term rise in stock price, the overall impact is likely negative due to these factors.
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