Loop Capital lowered the firm’s price target on Mobileye to $45 from $55 after its FY23 guidance cut but keeps a Buy rating on the share. The company ran into a 2023 growth hiccup related entirely to adoption of SuperVision, which is currently driven entirely by a single EV customer in China – ZEEKR – and this resulted in a 25% pullback in the stock, the analyst tells investors in a research note. Loop adds however that it remains positive on Mobileye for its "best-of-breed" exposure to structural long-term societal trends.
Published first on TheFly
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