Here's Why Northland Sees Huge Upside In Luminar Tech
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- LAZR
Northland analyst Gus Richard reiterated his Outperform rating and a $38 price target on Luminar Technologies Inc (NASDAQ: LAZR). The price target implies an upside of 175%.
The re-rating follows Luminar's partnership with Daimler AG (OTC: DDAIF) Mercedes-Benz to accelerate the development of future automated driving technologies for passenger cars.
Related Content: Why Luminar Technologies Shares Are Ripping Higher Today
Northland hailed the deal as "a major commercial win for Luminar."
Given reference designs at NVIDIA Corp (NASDAQ: NVDA), a partnership with Intel Corp's (NASDAQ: INTC) Mobileye, the first production cars with Lidar in 2022 and now Mercedes' passenger car win, it is "difficult to dispute" that Luminar is "the Lidar Leader," argues Richard.
Price Target: LAZR shares traded lower by 7.93% at $13.81 on the last check Friday.
Latest Ratings for LAZR
Dec 2021 | Cowen & Co. | Initiates Coverage On | Outperform | |
Jun 2021 | Baird | Upgrades | Neutral | Outperform |
May 2021 | Berenberg | Initiates Coverage On | Hold |
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