Cepton downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Cepton to Underweight from Neutral without a price target. The analyst believes the company’s wait for sustainable revenue and earnings, helped by series production ramps in the out years for the LiDAR groupm in combination with a tough macro backdrop will make it challenging to find new investors to inject fresh capital. It downgrades the shares to reflect the tougher path to scale revenues relative to the industry leaders.