Piper Sandler Trims Mobileye (MBLY) PT to $13 Foreseeing Divergent 2026 Auto Market

Group 1: Company Overview - Mobileye Global Inc. (NASDAQ:MBLY) is recognized as a promising stock under $50, focusing on advanced driver assistance systems (ADAS) and autonomous driving technologies globally [1][4] - The company has announced a definitive agreement to acquire humanoid robotics startup Mentee Robotics for approximately $900 million, which includes $612 million in cash and up to 26.2 million shares of Mobileye Class A common stock [3] Group 2: Market Insights - Piper Sandler has lowered Mobileye's price target to $13 from $15, maintaining a Neutral rating, and anticipates a divergent year for global auto markets in 2026 [1][3] - North American auto sales are projected to decline by 1.2% due to affordability issues, while European sales are expected to grow, supported by government initiatives and an influx of budget-friendly Chinese vehicles [2] - China's domestic market is expected to face a 3% sales decline due to subsidy expirations and macroeconomic challenges, although strong export demand may mitigate the impact on factory output [2]