Mobileye Global Inc. Stock 12‑Month Price Target Raised to $11.22, Implies 51% Upside

Mobileye (MBLY) shares fell 4.2% to $7.00 after RBC downgraded the stock to Underperform, citing concerns about its technology and reliance on Volkswagen. RBC cut its price target to $5, while other analysts have also reduced targets. The stock is near its 52-week low of $6.47. Despite the downgrade, some analysts remain bullish, and the broader market showed gains.

RBC Capital downgraded Mobileye Global to Underperform with a $5 price target, implying a 31.5% downside from its Oct 20 close of $7.30. The analyst cites risks from ADAS displacement and heavy reliance on Volkswagen Group for revenue.

Mobileye (MBLY) shares fell 4.1% premarket after RBC downgraded it to Underperform, citing growth risks. Analyst Tom Narayan lowered the price target to $5.00, citing structural vulnerabilities in its core business model and overreliance on Volkswagen. Concerns include execution delays and shifting automotive industry trends.

BlackBerry (BB) shares rose 6% to $8.61 after QNX, its embedded software unit, reported a record royalty backlog exceeding $1.2B. The increase was driven by new design wins, including a major award for Alloy Kore, its automotive operating system. Aptiv (APTV) and Mobileye (MBLY) shares also rose, but to a lesser extent. The Global X Autonomous & Electric Vehicles ETF (DRIV) gained 1%.

Citi initiated coverage on Mobileye (MBLY) with a Buy rating and $11 price target. The stock rose 4.7% in premarket trading. Citi sees growth in the global auto industry driving Mobileye's prospects.

Mobileye (MBLY) shares rose 4.3% in premarket trading after Citi initiated coverage with a Buy rating and $11 price target, citing growth potential in vehicle safety and autonomous driving. Morgan Stanley lowered its target to $9. Mobileye's Q3 earnings are scheduled for 29 October.