J.P. Morgan analyst Samik Chatterjee reiterated a Sell rating on Mobileye Global, Inc. Class A today and set a price target of $12.00.
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Samik Chatterjee has given his Sell rating due to a combination of factors that highlight the challenges Mobileye Global, Inc. faces in the rapidly changing automotive industry. The company is experiencing difficulties in ramping up its SuperVision volumes, which is crucial for maintaining a high-growth trajectory. This slower ramp, coupled with the loss of market share to in-house solutions by Western OEMs, raises concerns about the company’s ability to capitalize on previously anticipated high-growth opportunities.
Moreover, while Mobileye’s base ADAS market position is nearing maturity, it only justifies a modest premium compared to high-growth automotive suppliers if SuperVision is not part of the growth narrative. The uncertainty in the timing of product ramps and the changing industry preferences further limit the potential upside for Mobileye’s shares, which are already trading at a high multiple. Consequently, the long-term revenue and earnings forecasts remain largely unchanged, leading to a reiteration of the Underweight rating with a price target of $12 by December 2026.
According to TipRanks, Chatterjee is a 5-star analyst with an average return of 12.3% and a 66.60% success rate. Chatterjee covers the Technology sector, focusing on stocks such as Apple, Amphenol, and Corning.