Luna Innovations price target raised to $8 from $7 at Northland

Northland raised the firm’s price target on Luna Innovations to $8 from $7 and keeps a Market Perform rating on the shares. The firm’s higher target reflects its newly initiated FY24 estimate as well as “significant wins” the company reported, but Northland sees these positives being offset by the company’s slightly lower than expected Q2 results and Q3 revenue outlook, the analyst tells investors.