Robert W. Baird analyst Tristan Gerra has maintained their bullish stance on LAZR stock, giving a Buy rating yesterday.
Tristan Gerra’s rating is based on a combination of industry tailwinds and Luminar Technologies’ strategic positioning. The recent regulatory changes mandating advanced AEB/PAEB systems in all new vehicles by 2029 favor increased adoption of LiDAR technology, where Luminar is well-prepared to meet the new requirements. The company has also demonstrated its capability to exceed the National Highway Traffic Safety Administration (NHTSA) standards. Moreover, Luminar’s substantial order book, which is starting to convert into significant revenue, and its expansion into over 25 commercial programs beyond its collaboration with Volvo, suggests a strong growth trajectory for the company.
Additionally, the introduction of Luminar Halo, aimed at the mainstream market, underscores the company’s innovative edge, promising cost-effectiveness and superior performance. This product, expected to launch in 2026, is poised to capitalize on Luminar’s expanded partnership for lower industrialization costs. Financially, Luminar has sufficient cash reserves to sustain its operations until 2025, with plans to secure additional capital to achieve breakeven. The company’s reiteration of expected revenue run rates and its ability to maintain a healthy cash balance, including an available line of credit, provide further confidence in its fiscal management and outlook.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $9.00 price target.
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Luminar Technologies (LAZR) Company Description:
Luminar is an automotive technology company providing LiDAR hardware and software products to enable vehicle safety and autonomy. The company, through its Autonomy Solutions segment, manufactures and distributes LiDAR sensors. Further, Luminar’s Advanced Technologies and Services division develops application-specific integrated circuits, advanced lasers, and pixel-based sensors.
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