R.F. Lafferty lowered the firm’s price target on Luminar to $17 from $18 and keeps a Buy rating on the shares after the company reported a non-GAAP loss per share that was not as bad as the consensus forecast for Q3. Despite the revenue shortfall within the second half of 2023, the firm expects strong revenue growth for Luminar throughout 2024 and notes that its lower price target is the result of a higher share count.
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