Needham analyst Quinn Bolton reiterated Mobileye Global Inc (NASDAQ: MBLY) with a Buy and a $43 price target.
Mobileye reported a solid quarter but slightly lowered its CY23 revenue forecast as SuperVision (SV) shipments are tracking towards the low end of guidance of 100-115k units.
Bolton's key takeaways revolve around progress with higher average selling price (ASP) programs. MBLY added an SV engagement with a 10th OEM in 3Q23.
These OEMs are geographically diverse, and of the 7 engagements outstanding, 6 have a >80% chance of converting into design wins.
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