Mobileye price target lowered to $50 from $60 at Barclays

Barclays analyst Dan Levy lowered the firm’s price target on Mobileye to $50 from $60 and keeps an Overweight rating on the shares. The analyst says that while Mobileye remains one of the best narratives in the firm’s coverage, the guidance reduction was disappointing. The firm still sees a robust growth outlook ahead for the company.