What To Know About Deutsche Bank's Downgrade of Luminar Technologies
Portfolio Pulse from Benzinga Insights
Deutsche Bank downgraded Luminar Technologies (NASDAQ:LAZR) from a previous rating to Hold, significantly reducing the price target from $11.00 to $4.00. Luminar's shares are currently trading at $2.30, down 2.75% over the last 24 hours. The new price target suggests a potential upside of 73.91%. Luminar Technologies is an autonomous vehicle sensor and software company, primarily generating revenue from its Autonomy Solutions segment.
January 17, 2024 | 5:00 pm
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NEGATIVE IMPACT
Deutsche Bank downgraded Luminar Technologies to Hold and cut the price target from $11.00 to $4.00. The stock is trading at $2.30, down 2.75% from the previous day.
The downgrade by Deutsche Bank is a significant negative sentiment indicator for Luminar Technologies, as analyst ratings can influence investor perception and thus stock price. The substantial reduction in the price target may lead to a loss of investor confidence and potential selling pressure. However, the new price target still represents a significant upside from the current trading price, which could limit the downside if investors believe the target is achievable.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100