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Investing.com - Canaccord Genuity raised its price target on Mobileye N.V (NASDAQ:MBLY) to $30.00 from $25.00 on Thursday, while maintaining a Buy rating on the stock. Currently trading at $14.99, InvestingPro data shows the stock has potential upside, with analyst targets ranging from $12 to $33.
The price target increase represents a 20% upside from the previous target and is based on approximately 30 times the firm’s estimated 2027 adjusted earnings per share.
Canaccord noted that the new multiple is higher than the comparison group’s mean multiple of about 15 times. The comparison group includes companies across several segments including semiconductors, mobility, autonomous vehicle ecosystem, Tier 1 auto suppliers, and sustainability.
The research firm justified Mobileye’s premium valuation based on an anticipated profit and loss inflection beyond 2027, as SuperVision, Chauffeur, and Drive design wins begin to impact the company’s financial performance.
Canaccord projects Mobileye will achieve $5.27 in non-GAAP earnings per share by 2030, reflecting the firm’s confidence in the company’s long-term growth trajectory.
In other recent news, Mobileye N.V. reported second-quarter revenue of $506 million, surpassing consensus estimates of $486 million and the company’s updated guidance of $504 million. The company has also revised its fiscal 2025 revenue guidance upward to $1.79 billion from the previous $1.75 billion, indicating an 8% year-over-year growth. Meanwhile, a secondary public offering was announced, pricing 50 million shares of Class A common stock at $16.50 per share, with an additional option for underwriters to purchase up to 7.5 million more shares. This offering is managed by Intel Overseas Funding Corporation, a subsidiary of Intel Corporation (NASDAQ:INTC).
Analysts have been adjusting their price targets and ratings for Mobileye following these developments. Mizuho (NYSE:MFG) lowered its price target to $17.00 while maintaining a Neutral rating, citing near-term headwinds. BofA Securities also reduced its price target to $18.00, maintaining a Neutral rating as well. In contrast, TD Cowen raised its price target to $22.00, maintaining a Buy rating, driven by positive pre-announcement results. BNP Paribas (OTC:BNPQY) Exane reiterated its Neutral rating and $14.00 price target, expressing optimism about the stock’s potential recovery after strong second-quarter results.
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