Shares of Mobileye Global Inc. (MBLY) surged over 5% in Friday's pre-market trading session, following the company's impressive Q4 2024 earnings results and positive analyst commentary.
In its latest earnings call, Mobileye reported a 9% increase in EyeQ volume for Q4, driven by higher demand from Chinese domestic OEMs. The company's operating margin also improved to 21%, nearly 5 percentage points higher than the previous quarter. Despite revenue and earnings declines, Mobileye maintained a robust operating cash flow of $400 million for 2024, consistent with 2023 levels.
Analysts remain optimistic about Mobileye's prospects, with several firms reiterating Buy or Overweight ratings on the stock. Deutsche Bank raised its price target for MBLY to $17, citing the company's strong technological advancements and potential for future product enhancements. Cowen analysts also maintained their Buy recommendation, highlighting Mobileye's progress in customer engagements and strategic initiatives.
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