Craig-Hallum lowered the firm’s price target on Luminar to $2.25 from $4 and keeps a Hold rating on the shares. The firm notes Luminar missed its second quarter in a row largely due to delay in revenues related to the Volvo EX90. Craig-Hallum says it really isn’t surprised by this considering the number of headwinds the automotive industry has faced over the last 6-18 months.
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Read More on LAZR:
- Luminar price target lowered to $7 from $17 at R.F. Lafferty
- Luminar sees achieving quarterly revenue run rate mid-$30M range for 2024
- Luminar reports Q4 EPS (36c), consensus (19c)
- Luminar Technologies options imply 26.5% move in share price post-earnings
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