Luminar shares climb on Volvo news

Innoviz Technologies

24/06/2021 15:13

** Shares in Luminar Technologies Inc  LAZR.O  up 11.2% at
$24.92 after announcing its lidar sensor technology would be
standard in Volvo's upcoming electric vehicle
    ** Luminar shares, trading in a range of $23.88 to $25.30
were seeing brisk trading volume already at 1.6 times 10-DMA.
    ** LAZR last down 27% YTD. Of 8 analysts covering the
company 1 rates it 'strong buy' while 3 rate it 'buy' and 4 rate
it hold, according to Refinitiv
    ** Median price target for the stock is $27 down from $37.50
three months ago, as per Refinitiv date
    ** Last month Berenberg estimated that lidar sensor market
for  could be a a $31 bln market by 2030 as it started coverage
of LAZR with an $18 price target and a 'hold' rating, and rival 
 urn:newsml:reuters.com:*:nL3N2NC35Y
    ** Rival Innoviz Technologies Ltd  INVZ.O  last traded up
0.2$ at $10.67




 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters
Messaging: sinead.carew.thomsonreuters.com@reuters.net))