UBS analyst Joseph Spak downgrades $Mobileye Global (MBLY.US)$ to a hold rating, and adjusts the target price from $48 to $14.
According to TipRanks data, the analyst has a success rate of 49.5% and a total average return of -7.0% 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 company is recognized for its long-term value as a collaborator for non-Chinese automobile manufacturers. Yet, the prospects of growth appear to be postponed, with 2025 anticipated as a transition period. It is suggested that significant downward revisions to the current consensus forecasts may be necessary. Despite investor awareness of these issues, it is predicted that the stock may experience a period of stagnation until the adjustments are fully realized. Additionally, the ownership by a major technology corporation is considered to introduce an extra element of unpredictability.
The year 2024 is identified as a significant turning point for Mobileye, with the expectation of a 'major reset.' Subsequently, a 'clearing-the-decks' event was observed which resulted in the average sales and EBIT forecasts for FY25-FY27 being 13% and 17% lower, respectively, than the consensus.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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