In a report released today, Joshua Buchalter from TD Cowen maintained a Buy rating on Mobileye Global, Inc. Class A, with a price target of $22.00.
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Joshua Buchalter has given his Buy rating due to a combination of factors that suggest a positive outlook for Mobileye Global, Inc. Class A. The company recently provided a favorable pre-announcement for its second-quarter results, which exceeded market expectations by 9%, indicating stronger fundamentals than previously anticipated despite a challenging macroeconomic environment. This suggests that Mobileye’s inventory dynamics have improved, providing a solid foundation for potential growth in the latter half of the fiscal year.
Despite concerns regarding Intel’s significant ownership stake and potential tariff-related impacts, Buchalter sees opportunities for Mobileye to surpass its conservative guidance set in the previous quarter. The recent sale of Mobileye shares by Intel, while substantial, is part of Intel’s broader strategy to focus on its core business, and it provides Intel with a significant cash inflow. This transaction, coupled with Mobileye’s robust performance, supports the Buy rating as it indicates potential for upward revision in Mobileye’s full-year guidance.
Buchalter covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Intel, and Analog Devices. According to TipRanks, Buchalter has an average return of 7.2% and a 56.08% success rate on recommended stocks.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $24.00 price target.