Evercore ISI analyst Chris McNally lowered the firm’s price target on Mobileye (MBLY) to $20 from $25 and keeps an Outperform rating on the shares. The firm, which adjusts its auto sector targets to 2027 methodologies, contends that the sector shows promise due to the “K-economy” and replacement demand. The firm sees 20%-plus upside for the auto sector in the next year, driven by a shift from “25 Fears” to “27 Outlooks,” the analyst added.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MBLY:
- Short Report: AST SpaceMobile bears return after violent squeeze
- Mobileye Global, Inc.: Positioned for Growth with Strong Market Presence and Strategic Partnerships
- Mobileye price target raised to $25 from $22 at Tigress Financial
- Mobileye expands India footprint, collaborates with VVDN Technologies
- Mobileye call volume above normal and directionally bullish