Berenberg Says Innoviz Technologies (INVZ) Holds Best Q3 Risk/Reward in LiDAR, Says Luminar (LAZR) is 'overvalued'
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Berenberg analyst Jared Maymon reiterated a Buy rating and $12.00 price target on Innoviz Technologies (NASDAQ: INVZ).
The analyst comments "Our take on LiDAR following Q3 earnings: We believe LiDAR remains a highly attractive opportunity for investors but finding companies with an attractive risk/reward profile remains challenging. In our view, the third quarter of FY22 continues to show that the market is mispricing the relative size and breadth of opportunities for Innoviz (undervalued) and Luminar (overvalued). We see a strong pipeline of new business awards over the next two years, and we anticipate incremental catalysts every three to six months for players in the space. Innoviz remains our top idea in the space based on valuation, technological superiority, and addressable opportunities."
Shares of Innoviz Technologies closed at $5.55 yesterday.
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