JPMorgan raised the firm’s price target on Luminar to $20 from $15 and keeps an Overweight rating on the shares. The company’s investor day kept concerns around slowing momentum for the LiDAR industry "at bay," the analyst tells investors in a research note. The firm says Luminar’s ramp on series production vehicles remains intact without material delays. Its pipeline engagement "remains robust," which should drive additional wins in 2023, contends the firm.
Published first on TheFly
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