Velodyne Lidar, Inc. (VLDR) PT Raised to $31 at Craig-Hallum as LiDAR Gains Investor Traction

Craig-Hallum analyst Richard Shannon raised the price target on Velodyne Lidar, Inc. (NASDAQ: VLDR) to $31.00 (from $23.00) ahead of three more LiDAR companies entering the public markets in 1Q21 via SPACs (Aeva, Innoviz and Ouster).

The analyst maintained a Buy rating, stating "VLDR is still the most mature LiDAR maker on the market, with revenues, contract wins, and backlog surpassing or rivaling any other LiDAR maker. In the Auto space, we think investors are underappreciating VLDR’s success relative to its high-profile competition, and we point to VLDR’s 8 ADAS wins and 2+ robotaxi contracts (incl. 1 with Baidu) as evidence of its viability there. In its secondary markets of delivery/robotics/industrial/etc., our checks suggest that VLDR is the preferred solution.

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