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Goldman Sachs Downgrades Mobileye N.V (MBLY) to Neutral

June 28, 2016 6:34 AM EDT
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Price: $28.94 +4.33%

Rating Summary:
    22 Buy, 11 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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(Updated - June 28, 2016 8:33 AM EDT)

Goldman Sachs downgraded Mobileye N.V (NYSE: MBLY) from Buy to Neutral with a price target of $40.00 (from $45.00). Analyst Alexander Duval remains positive on the company's long-term prospects but noted recent outperformance.

"We remove Mobileye from the Buy list following the >60% increase in the share price since February, driven in our view by solid quarterly earnings delivery, news reports (including the WSJ) of the conclusion of two fully autonomous driving contracts with OEMs, and company commentary highlighting customer traction with its REM mapping solution. We move to Neutral with a new 12m Price Target of $40 (from $45), based on our latest modestly lowered ests. and DCF valuation approach, implying fourth quartile upside vs. Europe Technology," said the analyst.

For an analyst ratings summary and ratings history on Mobileye N.V click here. For more ratings news on Mobileye N.V click here.

Shares of Mobileye N.V closed at $39.79 yesterday.



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