Rosenblatt Starts Luminar Technologies (LAZR) at Neutral

Rosenblatt analyst Kevin Cassidy initiates coverage on Luminar Technologies (NASDAQ: LAZR) with a Neutral rating and a price target of $8.00.

The analyst commented, "We are launching coverage on Luminar Technologies, Inc. (LAZR) with a Neutral rating and $8.00 12-month price target. Luminar has an impressive LiDAR design, list of automotive partners and experienced new hires in upper management positions. Given the valuation premium the shares are receiving, we believe these positives are priced into the shares. The next obstacle for the company is to move the Iris into series production. We view that there are many risks for ramping into volume production. In our view, investors can wait until these risks have been resolved before building a position in LAZR."

For an analyst ratings summary and ratings history on Luminar Technologies click here. For more ratings news on Luminar Technologies click here.

Shares of Luminar Technologies closed at $7.17 yesterday.

You May Also Be Interested In

• MoffettNathanson sees upside for DoorDash and Uber, Lyft on the 'losing end'
• SVB Leerink Starts Denali Therapeutics Inc. (DNLI) at Outperform
• Adbri Ltd (ABC:AU) (ADLDY) PT Raised to AUD1.95 at JPMorgan