🔴 Mobileye Global is trading 4.43% down in pre-market after Barclays cut its rating and target

Mobileye Global is trading at $7.23, down 4.43% in pre-market after Barclays downgraded it to Equalweight from Overweight.

• On September 30, Barclays cut its price target from $14 to $9.
• The bank cited a lack of significant advanced-content contracts, Chinese competition, questions about Volkswagen opportunities and CEO-transition uncertainty.
• Mobileye Global fell 2.95% in the prior session, closing at $7.57, according to the supplied price context.