Mobileye N.V (MBLY) PT Lowered to $32 at Citi

Citi analyst Itay Michaeli lowered the price target on Mobileye N.V (NASDAQ: MBLY) to $32.00 (from $53.00) while maintaining a Buy rating.

The analyst comments "After our follow-up with the company post the disappointing H2 guide, we maintain our Buy rating but lower estimates/target. We think the key questions for the stock now are whether H2 China share losses serve as a read to other major regions, whether the story can still work if China share shrinks further, and whether the pipeline can begin converting over the next several months. Our conclusion is that China setbacks reset but don’t derail the big picture growth story, and that pipeline conversion remains likely in the coming months. After the sharp pullback and with estimates resetting, we’re sticking with a Buy rating into anticipated H2 pipeline catalysts."

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