Mobileye Stock Slumps on Analyst’s Downgrade. The EV Sales Slump Could Hurt.
Mobileye Global shares are selling off Friday after a Morgan Stanley analyst turned bearish on the provider of software and components for autonomous and assisted driving. Adam Jonas cut his rating on the stock to Underweight from Equal Weight, with a new target of $25, down from $26. Mobileye shares were down 6.8%, to $28.80.