Mobileye price target lowered to $8 from $12 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Mobileye (MBLY) to $8 from $12 and keeps a Neutral rating on the shares. Auto OEMs and suppliers are expected to deliver in-line to softer results this quarter due to rising input costs and weak Q1 auto sales in China, the analyst tells investors in a research note. In contrast, industrial tech companies should report solid performance and guidance, supported by improving industrial trends and strong data center demand, the firm says.