Mobileye price target lowered to $47 from $50 at Baird

Baird analyst Luke Junk lowered the firm’s price target on Mobileye to $47 from $50 and keeps an Outperform rating on the shares. The analyst said we believe the reset due to temporary factors offers opportunity, see downside to guidance as straightforward and essentially stemming from recent trends on a single vehicle at a single customer, and see several reasons to be encouraged bigger picture.