Luminar Technologies Inc (LAZR)

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LAZR,,Mar. 12, 2021 8:38 AM ETLuminar Technologies, Inc. (LAZR)By: Brandy Betz, SA News Editor5 Comments

Yesterday, Luminar Technologies (NASDAQ:LAZR) unveiled a new full-stack software solution in partnership with Volvo subsidiary Zenseact. The solution will be available to Volvo through Zenseact and to other automakers through Luminar.
The new product prompts Northland Securities analyst Gus Richard to upgrade Luminar from Market Perform to Outperform while maintaining a $38 price target.
Richard: "We believe this enhances the value of LAZR as most OEMs do not have the wear with all to develop a full-stack software capability for hands-free highways."
LAZR shares are up slightly pre-market at $26.30.
Luminar shares surged yesterday after the full-stack solution was announced.
Late last year, analyst Gus Richard forecast that the automotive lidar market could reach $2.5B by 2025.

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