Analyst Federico Merendi of Bank of America Securities maintained a Hold rating on Mobileye Global, Inc. Class A, retaining the price target of $16.00.
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Federico Merendi’s rating is based on Mobileye Global, Inc.’s recent financial performance and future outlook. The company’s third-quarter operating results were in line with expectations, showing a slight revenue growth driven by strong EyeQ shipments. However, the gross margins were lower than anticipated due to high volumes in China, and operating expenses were higher than forecasted.
Despite raising the lower end of its full-year guidance, the company’s implied fourth-quarter performance suggests a cautious approach in balancing supply and demand amid a volatile macroeconomic environment. While there are positive developments, such as progress in future ADAS programs and plans for driverless robotaxi commercialization, the guidance raise was not as significant as expected. These factors contribute to the Hold rating, reflecting a balanced view of potential risks and opportunities.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $15.00 price target.