Luminar price target lowered to $6 from $8 at TD Cowen

TD Cowen lowered the firm’s price target on Luminar to $6 from $8 and keeps an Outperform rating on the shares. The firm said the quarter sahowed quiet but important underlying progress as Luminar ramps to production ahead of the Volvo EX90. Short-term customer decision delays inject uncertainty but are not exclusive to Luminar at this stage. Long-term opportunity remains robust for Luminar.