Mobileye Gets Downgrade From Raymond James After Rally

MarketWatch Pulse

Analysts at Raymond James on Monday downgraded car technology company Mobileye N.V. to "market perform" on valuation. "We continue to believe Mobileye is well-positioned to benefit from increasing [advance driver assistance systems] adoption rates and the ultimate realization of an autonomous driving future. However, after rallying more than 100% from its IPO price of $25 in less than three months, we believe a Market Perform rating is appropriate at this time," the analysts said. Shares of Israel-based Mobileye, which started trading Aug. 1, were off 1.8% on Monday.

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