Valens Semiconductor price target lowered to $8 from $10 at Oppenheimer

Oppenheimer analyst Rick Schafer lowered the firm’s price target on Valens Semiconductor to $8 from $10 and keeps an Outperform rating on the shares after the company reported Q3 results. The analyst likes Valens’ accelerating growth story led by auto share/content capture, though lowered his price target to reflect group multiple compression.