BofA downgraded Luminar to Underperform from Neutral with a price target of $1.20, down from $3.50. Model launch delays and reduced volume expectations for vehicles expected to adopt LIDAR drive a “meaningful drop” in the firm’s volume forecasts, says the analyst, who now expects it could take until 2029/2030 for the company to hit EBITDA and cash flow breakeven.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LAZR:
- Luminar price target lowered to $11 from $14 at Citi
- Largest borrow rate increases among liquid names
- Short Report: Bears cut down exposure to crypto names as bitcoin price spikes
- Luminar price target lowered to $2.25 from $4 at Craig-Hallum
- Luminar price target lowered to $7 from $17 at R.F. Lafferty
Questions or Comments about the article? Write to editor@tipranks.com