• 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

View More Analyst Ratings for LAZR
View the Latest Analyst Ratings

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