Mobileye Global Analyst Blames Lack Of Clarity Around OEM Wins For Downgrade
Mobileye Global Analyst Blames Lack Of Clarity Around OEM Wins For Downgrade
Shares of Mobileye Global Inc (NASDAQ:MBLY) were climbing in early trading on Tuesday, after having lost around 68% year to date.
Mobileye Global Inc（納斯達克股票代碼：MBLY）的股價在週二早盤交易中上漲，今年以來已經下跌了約68%。
There is uncertainty around the company's Western OEM (original equipment manufacturer) wins on premium products like SuperVision, according to RBC Capital Markets.
關於該公司的西方原始設備製造商（OEM）在SuperVision等高端產品上的獲勝尚存在不確定性，據RBC資本市場稱。
Analyst Tom Narayan downgraded the rating for Mobileye Global from Outperform to Sector Perform, while reducing the price target from $24 to $11.
分析師湯姆·納拉揚將Mobileye Global的評級從表現優異降級爲板塊表現，同時將目標股價從24美元降至11美元。
The Mobileye Global Thesis: Although the company is in active discussions with 14 OEMs on premium products, the clarity around these could come only after six to twelve months, Narayan said in the downgrade note.
Mobileye Global 的論點：儘管該公司正在與14家OEM就高端產品進行積極討論，但納拉揚在下調通知中表示，對這些產品的明晰性可能要等待六到十二個月後才能得到。
Check out other analyst stock ratings.
查看其他分析師的股票評級。
"The concern for us, however, is that given large '24 guidance cuts coming out of BMW, Mercedes, Volkswagen, and Stellantis in just the past few weeks, and cautious commentary coming from other OEMs, we think it less likely that there will be MBLY win announcements near term," he added.
「然而，我們擔心的是，考慮到寶馬、奔馳、大衆和斯泰蘭蒂斯在過去幾周宣佈大幅度的24降低指引，以及其他OEM發佈謹慎評論，我們認爲短期內不太可能會有MBLY的獲勝公告，」他補充說。
While several OEMs are "focused on managing elevated dealer inventories without needing to sacrifice too much on pricing," some of them are cutting production, which creates substantial headwinds for Mobileye Global's free cash slows in the near term, the analyst stated.
分析師指出，儘管一些OEM「專注於管理高水平的經銷商庫存而無需在定價方面做出太多讓步」，但其中一些公司正在削減生產，這給Mobileye Global 的近期自由現金流造成了重大阻力。
"Finally, there are investor concerns that MBLY's China SV exposures, notably Zeekr and FAW, might not be as robust," he further wrote.
「最後，有投資者擔心MBLY的中國超視野暴露，特別是極氪和一汽可能不那麼強勁，」他進一步寫道。
Price Action: Shares of Mobileye Global had risen by 1.47% to $13.20 at the time of publication on Tuesday.
價格走勢：在週二發佈時，Mobileye全球的股價上漲了1.47%，至13.20美元。
Read More:
閱讀更多：
- Mobileye Soars After Intel Says It Will Not Sell Majority Stake
- 英特爾表示將不會出售Mobileye的大部分股權後，Mobileye股價飆升。
Image: Courtesy of Mobileye
圖像：由Mobileye提供
