Analyst Joshua Buchalter of TD Cowen reiterated a Buy rating on Mobileye Global, Inc. Class A, reducing the price target to $20.00.
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Joshua Buchalter has given his Buy rating due to a combination of factors influencing Mobileye Global, Inc. Class A’s stock. The company has demonstrated strong performance with another successful quarter and an upward revision in its full-year guidance, driven by increased EyeQ shipments. Despite this positive momentum, the guidance reflects a cautious approach due to macroeconomic uncertainties, which may imply a conservative outlook for the second half of the year.
Furthermore, Mobileye’s better-than-expected ADAS volumes in China and the anticipated launch of SuperVision systems in new models like the ZEEKR and Polestar are seen as positive developments. However, the slow pace of OEM awards and Intel’s significant ownership continue to pose challenges. Nonetheless, the potential growth in the robotaxi sector and the company’s strong technological positioning support the Buy rating, with the expectation that additional wins outside of VW and China will further bolster the company’s narrative.
In another report released on July 11, Robert W. Baird also maintained a Buy rating on the stock with a $23.00 price target.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MBLY in relation to earlier this year.