Rosenblatt Starts Innoviz Technologies (INVZ) at Neutral
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Rosenblatt analyst Kevin Cassidy initiates coverage on Innoviz Technologies (NASDAQ: INVZ) with a Neutral rating and a price target of $5.00.
The analyst commented, "We are initiating coverage on Innoviz Technologies Ltd with a Neutral rating and a 12-month target price of $5. Innoviz has designed a worldwide leading LiDAR product and software. This is evident by its contracts with BMW, Volkswagen and an L4 Shuttle OEM amounting to $6.6B order book. The company is bidding on at least 12 other programs, one of which may be announced soon. The next obstacle for the company is moving the designs into series production. Ramping production from zero to hundreds of thousands units/year is a daunting task. This has us cautious on owning the shares at this point."
Shares of Innoviz Technologies closed at $4.68 yesterday.
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