Mobileye price target lowered to $27 from $40 at Barclays

Barclays lowered the firm’s price target on Mobileye to $27 from $40 and keeps an Overweight rating on the shares. The company’s Q2 beat was overwhelmed by a sharper than expected guide cut on both SuperVision and Base ADAS, the analyst tells investors in a research note. The firm says the sharp negative reaction in the stock reflects a number of issues, most notably Mobileye’s competitive positioning in China.