Citi keeps $77 target on top supplier pick Mobileye

Citi analyst Itay Michaeli reiterates a Buy rating on Mobileye with a $77 price target following the company’s "strong" Q4 results. Mobileye’s Q4 results handily exceeded guidance for both revenue and operating income and management’s business development updates were encouraging, the analyst tells investors in a research note. The firm continues to see a "catalyst-rich 2023 setup" for the shares reiterates Mobileye as its top supplier pick.