S&P 500 Futures Rise in Pre-Market Session; Venture Global and Karman Holdings Take the Lead

Piper Sandler lowered the firm's price target on Mobileye to $13 from $15 and keeps a Neutral rating on the shares. Discussing the outlook for 2026, the firm says it expects North American sales to fall 1.2% in 2026 due to persistent concerns regarding affordability. Lower sales should have a downward impact on production, but this may be blunted by re-shoring and fewer imports. In Europe, Piper expects sales to revert to growth in 2026, driven by an influx of cheap Chinese vehicles and rising government support. The firm further expects production to remain flat, due to weakening demand for domestic cars and lower exports. In China, Piper sees sales falling 3.0% in 2026 due to macro weakness and expiring subsidies. Continued export growth should partially offset the effect of lower demand on production, which it has as falling 1.8% year-over-year in 2026.

JPMorgan upgraded Mobileye to Neutral from Underweight with a price target of $13, up from $12. The firm sees limited downside risks at current valuation levels. JPMorgan sees auto outlook stabilization following the tariff-related uncertainty in 2025. There is now a higher predictability of growth outcomes through the year, the analyst tells investors in a research note. The firm says Mobility is positioned to benefit through its partnerships with Lyft and Uber.