TD Cowen analyst Joshua Buchalter maintained a Buy rating on Mobileye Global, Inc. Class A yesterday and set a price target of $16.00.
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Joshua Buchalter has given his Buy rating due to a combination of factors including Mobileye’s recent performance and strategic developments. The company reported a strong quarter with higher-than-expected EyeQ shipments and SuperVision volumes, which led to an upward revision in its full-year guidance. Despite this positive performance, the management has maintained a conservative outlook for the second half of the year, likely to manage inventory levels and potential production disruptions due to external factors like Nexperia’s situation.
Additionally, Mobileye announced a significant win with a leading Western OEM for its EyeQ 6H-based Surround ADAS program, which is expected to contribute to substantial volumes in the coming years. The company is also making progress in its robotaxi initiatives with partners like VW and Holon/Lyft, with commercial deployment anticipated in the next few years. These developments, along with upcoming launches of Porsche/Audi SuperVision, are expected to drive long-term growth, supporting the Buy rating.
Buchalter covers the Technology sector, focusing on stocks such as Marvell, Advanced Micro Devices, and Broadcom. According to TipRanks, Buchalter has an average return of 15.0% and a 58.67% success rate on recommended stocks.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $18.00 price target.