Goldman Sachs Maintains Sell on Luminar Technologies, Lowers Price Target to $3
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Mark Delaney has reiterated a Sell rating on Luminar Technologies (NASDAQ:LAZR) and reduced the price target from $3.5 to $3. This adjustment reflects a more bearish outlook on the company's stock by the investment bank.
November 10, 2023 | 4:08 pm
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NEGATIVE IMPACT
Goldman Sachs has maintained a Sell rating on Luminar Technologies and lowered the price target from $3.5 to $3, indicating a negative outlook on the stock's short-term performance.
The reduction in price target by a prominent investment bank like Goldman Sachs can have a significant negative impact on investor sentiment and the stock price in the short term. The Sell rating reaffirms the bank's lack of confidence in the stock's near-term growth potential.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100