Will Luminar Technologies Need To Raise $1B In Capital? This Bearish Analyst Answers
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Shares of Luminar Technologies Inc (NASDAQ: LAZR) were tanking in early trading on Wednesday.
Volume forecasts for the company have been reduced meaningfully to reflect model launch delays and lower expectations for vehicles adopting the LIDAR technology, according to BofA Securities.
The Luminar Technologies Analyst: John Babcock downgraded the rating for Luminar Technologies from Neutral to Underperform, while slashing the price target from $3.50 to $1.20.
The Luminar Technologies Thesis: The company’s volumes are likely to be impacted by weaker demand for EV (electric vehicles) due …
Full story available on Benzinga.com
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