Luminar resumed with a Hold at Deutsche Bank

Deutsche Bank analyst Edison Yu resumed coverage of Luminar with a Hold rating and $1 price target. The company is focused on scaling up production to meet the cadence of ramp as well as lowering the cost of the sensors, indicating that it could take about a year of series production to reach previously communicated targets on Iris, the aanlyst tells investors in a research note. The firm believes this likely points to Luminar not turning gross profit positive until some time in 2025.