Many firms and even societies are betting on a future crammed with autonomous autos. This future comes nearer each time one other check is accomplished or a product is unveiled, however the complicated actuality of city environments poses a vital barrier to an autonomous way of life within the metropolis.
Hands-free freeway driving is a far more achievable purpose, to not point out a profitable market, and Luminar Technologies Inc. (LAZR) says it has the lidar system to make that occur. (See LAZR stock chart on TipRanks)
Gus Richard of Northland Capital Markets is optimistic on LAZR’s outlook. After explaining that Luminar offered its new lidar system totally applied into a Volvo SUV, he wrote opined that “LAZR is the first Lidar Company to meet auto-grade specifications that is manufacturable, scalable, and easily integrated into a car that meets the aesthetic requirement for a production car.”
The five-star analyst assigned a Buy score and declared a value goal of $38, reflecting a potential 12-month upside of 62.32% from the inventory’s Friday closing value of $23.41.
Rather impressed by Luminar’s presentation, Richard wrote that the corporate is main in lidar methods with its Iris platform, and that the know-how will likely be obligatory for any extra complicated varieties for autonomy which is able to finally come alongside.
He talked about that Iris is scheduled to enter manufacturing by late 2022 with each Volvo and Chinese SAIC Motors Corporation, a Chinese auto producer.
In regards to autonomous freeway driving being a step towards full city autonomy, Richard in contrast that to the “iPod being the precursor to the iPhone.”
However, the analyst was not totally obsessed with the corporate, and did delineate a harsh actuality that Luminar has to beat. He defined that “Luminar is an early to a mid-stage technology startup. It needs to develop the processes and procedures of a public company that currently does not exist. Our estimates may not factor in the full burden of the cost of being a public company.”
On TipRanks, the analyst score consensus for LAZR is a Moderate Buy, based mostly on 3 Buy and 4 Hold scores. The average analyst Luminar Technologies price target is $26.43 per share, reflecting a potential 12-month upside of 12.90%.
Disclaimer: The opinions expressed on this article are solely these of the featured analyst. The content material is meant for use for informational functions solely. It is essential to do your personal evaluation earlier than making any funding.