Mobileye Global Hit By Surprise EV Slowdown; This Analyst Turns Bearish
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Mobileye Global Inc (NASDAQ:MBLY) reported a 48% year-on-year revenue decline for the first quarter.
According to Morgan Stanley, the stiff competition and the unexpected downturn in electric vehicle (EV) adoption limits Mobileye’s TAM (total addressable market) through 2030.
The Mobileye Global Analyst: Adam Jonas downgraded the rating for Mobileye Global from Equal-Weight to Underweight. He also lowered the price target from $26 to $25.
The Mobileye Global Thesis: While Mobileye Global’s SuperVision product is “impressive,” its potential relies on several factors that are outside the company’s control, Jonas said in the downgrade note.
Check out other analyst stock ratings.
“While we see significant …
Full story available on Benzinga.com
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