BNP Paribas analyst James Picariello downgrades $Mobileye Global (MBLY.US)$ to a sell rating, and adjusts the target price from $17 to $12.
According to TipRanks data, the analyst has a success rate of 67.1% and a total average return of 29.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Mobileye Global (MBLY.US)$'s main analysts recently are as follows:
The forecast for U.S. SAAR has been adjusted downwards to mirror the tepid sales observed so far this year, with SAAR averaging approximately 15.5M. This figure represents a modest increase but falls short of the previously anticipated mid-single-digit growth. Additionally, there has been a noted dip in vehicle purchase intentions among lower-income consumers, according to surveys.
2024 is seen as a significant turning point for Mobileye, with a 'major reset' occurring. This has led to a reassessment of the company's future, resulting in sales and EBIT forecasts for FY25-FY27 that are 13% and 17% lower, respectively, than the consensus.
Note:
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