Ouster price target raised to $7.50 from $6.10 at Citi

Citi analyst Itay Michaeli raised the firm’s price target on Ouster to $7.50 from $6.10 and keeps a Neutral rating on the shares. The analyst views the company’s Q2 report as “encouraging all-around.” However, Citi would like to see continued cost execution since it expects Ouster to require additional funding in the coming years before reaching cash flow positive.