Mobileye Stock Downgraded to 'Neutral' at Piper Jaffray

Shares of Mobileye (MBLY) were roughly flat during afternoon trading on Monday after being downgraded to "neutral" from "overweight" at Piper Jaffray.

Today's downgrade comes after Intel (INTC) agreed last week to purchase Mobileye for $15.3 billion.

Piper Jaffray analyst Alexander Potter wrote that he "begrudgingly" concluded the price Intel paid for acquiring technology company was fair.

The firm upped its price target on the stock to $63.54 from $60 to reflect Intel's offer.

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