Deutsche Bank downgraded Luminar (LAZR) to Hold from Buy with a price target of $4, down from $11. In conversations with industry players at CES, it seems like Luminar may be losing some existing order book to peers like Aeva and Innoviz, the analyst tells investors in a research note. The firm believes these data points suggest competitive threats from peers for Luminar. In particular, Mobileye (MBLY) recently won a design win from VW and Deutsche wonders if Innoviz lidars might be selected for the SuperVision program, as an extension for ID Buzz, says the analyst.
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